At the Delphi Economic Forum in Greece, Bulgarian Energy Minister Zhecho Stankov underscored the strategic importance of maximizing the use of existing gas infrastructure to enhance energy security across the region. He revealed that Bulgaria is close to sealing an agreement with Shell for natural gas exploration in the Black Sea, reflecting growing international interest in the area’s energy potential.
While acknowledging that domestic natural gas extraction will require time, Stankov emphasized the importance of leveraging current resources—particularly regional liquefied natural gas (LNG) terminals—to meet immediate energy needs. He highlighted the Alexandroupoli LNG terminal in Greece, with its 5.5 billion cubic meter capacity, as a key asset in this effort.
Stankov also pointed to the planned expansion of the Bulgaria-Greece gas interconnector, which will increase its capacity from 3.2 to 5 billion cubic meters. This upgrade, he noted, will significantly contribute to regional energy resilience.
Beyond infrastructure, the Minister stressed the value of cross-border cooperation with neighboring countries such as Greece and Cyprus. He emphasized that while investment in new exploration projects remains essential, equal attention must be paid to optimizing the use of existing systems.
Addressing the region’s pressing issue of high electricity prices—particularly in southeastern Europe compared to central and western parts of the continent—Stankov called for practical measures aimed at boosting business competitiveness and reducing household energy costs.
He concluded with a call for unity among affected countries, urging them to amplify their voices within the European Union. Stankov highlighted the vulnerability of countries like Bulgaria and Greece, which border non-EU nations, warning that businesses might shift operations to neighboring countries with lower energy prices unless action is taken.