Bulgaria concluded a Memorandum of Cooperation with Gas Transmission Operators from 4 Countries

On the initiative of Bulgaria, a contract was signed today in Sofia between the operator of the gas transmission system "Bulgartransgaz", as well as the relevant companies in Romania ("Transgaz"), Hungary (FGSZ), Slovakia ("Eustream"), as well as the state oil company of the Republic Azerbaijan ("SOCAR")

The document is about the Solidarity Ring (STRING) joint initiative, supported by the European Commission, which aims to increase the security of natural gas supplies for the European Union and the region of Central and South-Eastern Europe.

President Rumen Radev, who together with his Azerbaijani counterpart Ilham Aliyev participated in the ceremony, indicated that the memorandum will increase connectivity between the countries and increase the capacity of their gas transmission networks.

"The name of the initiative is 'Solidarity Ring', because at its foundation lies cooperation and solidarity. Just when our partners are most in need of secure, reliable supplies, of diversification, let us all work together so that we can provide because the war in Ukraine has pushed us to look for new dimensions of the concepts of good neighborliness, mutual aid and solidarity, it has pushed us to look for new routes, new sources, new ways of delivery in order to be able to fundamentally reshape the international logistics map. This initiative is an example of success in this direction," said President Rumen Radev.

The memorandum will ensure greater energy security for Europe and more quantities of Azeri natural gas for European countries, emphasized the President of Azerbaijan, Ilham Aliyev. He pointed out that Baku is a reliable partner of Europe and recalled the energy security memorandum signed in July last year between his country and...