FMs of 5 Countries Sign Declaration on Energy Cooperation in Budapest

World | April 7, 2015, Tuesday // 20:59
Bulgaria: FMs of 5 Countries Sign Declaration on Energy Cooperation in Budapest Foreign Ministers Nikos Kotzias of Greece (L-R), Ivica Dacic of Serbia, Peter Szijjarto of Hungary, Nikola Poposki of Macedonia, and Turkish Minister for EU Affairs Volkan Bozkir line up for a picture prior their meeting on the future of the energy supply

The foreign ministers of Hungary, Greece, Macedonia, Serbia and Turkey signed on Tuesday a joint declaration on strengthening energy cooperation in Central and Southeastern Europe.

The meeting, which had been initiated by the Hungarian foreign ministry, was held in Budapest and focused on the future energy supply in the region, Hungary Daily reports.

The ministers agreed that cooperation in ensuring energy supply security stimulates the good neighbourly relations of the countries and the well-being of their citizens.

The declaration highlights the importance of EU funds for developing infrastructure projects in the region in order to reach the level of diversification achieved in Western Europe.

The EU had to assume responsibility for these projects as these would contribute to the overall energy security of Europe.

The five countries expressed their willingness to increase the interconnections between their natural gas systems.

The ministers affirmed their support for delivering natural gas from Turkey to the countries of Central and Southeastern Europe through a commercially viable route.

They agreed on supporting the energy markets of Turkey, the EU and the contracting parties of the Energy Community through the Southern Gas Corridor.

According to the agreement, other countries from the region, which are interested in participating in these pursuits, will also be welcomed.

The declaration also provides for complementing the operation of gas storage facilities in order to ease trade, provide seasonal balancing and increase security in case of disruption to gas supplies.

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Tags: Hungary, greece, macedonia, Serbia, turkey, energy, cooperation, EU, supply, fund, infrastructure, diversification, security, interconnection, natural gas, Energy Community, Southern Gas Corridor
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