Deputy PM: Bulgaria is a Key Part of the Puzzle for solving Europe's Gas Problem

Business » ENERGY | June 7, 2022, Tuesday // 10:45
Bulgaria: Deputy PM: Bulgaria is a Key Part of the Puzzle for solving Europe's Gas Problem @BNT

Inflation is not a temporary phenomenon as a result of the war, it was set earlier, and the war accelerated the process”. This was stated by Finance Minister and Deputy Prime Minister Asen Vassilev.

The war brought another sub-shot to the world market, more than 25% of grain exports could not be transported, we see grain prices that are 3 times higher. We are waiting for them to rise further. Russia will not export grain, Ukraine will not, India has stopped exports, China has bought all the futures, the picture of the grain market is not pretty, this is included in all foods that we eat directly or indirectly. In this not very beautiful and pleasant picture, what can we do”, Vassilev asked rhetorically.

There are a few things that have started to happen. For the first time, there is coordination in gas purchases at EU level. For the first time we have an integrated European policy, we look at supplies regionally, this opens up opportunities. The old infrastructure in our country from communist times, which carried gas from north to south, is currently used in reverse, we are talking about 20 billion cubic meters, which can be transited from south to north”, Vassilev added. “We are a small part of this - about 2 billion. The remaining 18 can go beyond our borders to the north or west. We are a key part of the puzzle for solving the gas problem of the whole of Europe”, Vassilev was categorical.

We are a large exporter of grain, we produced 7 million tons last year, we need 2 million tons, the rest is exported. Talks are underway to make a policy that looks at the supply and demand of grain and food as a nation-state in Europe, and then to move to foreign markets”, said Vassilev. “Talks are still underway”, he added.

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