Oettinger Pledges Full Support for Bulgaria's Energy Board

Business » ENERGY | August 20, 2014, Wednesday // 16:37| Views: | Comments: 1
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Bulgaria: Oettinger Pledges Full Support for Bulgaria's Energy Board EU Energy Commission Gunther Oettinger. Photo by EPA/BGNES

EU Energy Commissioner Gunther Oettinger has told Deputy Prime Minister Ekaterina Zaharieva he entirely supports the establishment of an energy board in the country.

Oettinger commented on the latest developments in Bulgaria's energy sector while meeting Zaharieva and interim Economy Minister Vasil Shtonov in Brussels.

The Deputy Prime Minister underscored the importance of urgent reforms in energy that the government, in her words, "has the political will" to carry out.

Both the Commissioner and the Bulgarian ministers agreed that an analysis of the sector conducted last year by the European Commission and the World Bank would serve as a good basis to create an action plan that would address the core issues.

According to the Council of Ministers' press office, Sofia restated its commitment to temporarily suspending the South Stream project until they are in compliance with EU legislation.

Oettinger for his part asserted the Bulgarian representatives that Brussels was not against the pipeline, but it had to be carried out according to EU rules.

Risks that tensions between Russia and Ukraine pose to Bulgaria's gas supplies were also a issue, with Zaharieva arguing the country could suffer up to BGN 400 M of losses as a worst-case scenario.

Oettinger, however, dismissed such an option.

Zaharieva also underlined that Bulgaria's interconnection link with Greece was an utmost priority if the country was to withstand a possible crisis.

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Tags: Gunter Oettinger, Ekaterina Zaharieva, Vasil Shtonov, South stream, EU, Bulgaria, energy board
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