Valentin Nikolov, Deputy Minister of Economy, Energy and Tourism, has highlighted the importance of building reverse-flow gas grid interconnections between Bulgaria and neighbor countries for the energy security of the region.

Speaking at a Wednesday meeting in Belgrade of the energy ministers from the member countries of the Organisation of the Black Sea Economic Co-operation (BSEC), Nikolov clarified that the aim was to ensure a diversification of gas supply routes, grid connectedness and the realization of gas transmission.

Meeting participants adopted a declaration for the development of the gas infrastructure in the Black Sea region.

The gas grid interconnection between Bulgaria and Serbia is expected to have an initial capacity of 1.8 bcm of natural gas per year with the opportunity to increase transit volumes to 4.5 bcm per year.

In the course of Wednesday's meeting, Nikolov explained that the Bulgaria-Serbia gas link was part of a regional gas ring that was being built with Bulgaria's active participation.

Serbia's Minister of Infrastructure and Energy Milutin Mrkonjic also underscored the importance of the project.

Bulgaria's Deputy Energy and Economy Minister also participated in a quadrilateral meeting of the energy ministers of Bulgaria, Serbia, Armenia and Azerbaijan.

During the talks, Azerbaijan confirmed its commitment to supply gas to Bulgaria and the South Eastern European region.

It was stated that there were two ways to supply the gas – one involving the construction of a gas pipeline connecting Turkey, Bulgaria and Serbia and another one involving the supply of compressed natural gas across the Black Sea.

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