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Bulgaria, Macedonia Sign Natural Gas Memorandum

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Bulgaria, Macedonia Sign Natural Gas Memorandum

(August 1, 2017 Sofia) - The governments of Bulgaria and Macedonia have reaffirmed their political intention to increase the security of the energy supplies to both countries in the region of Southeast Europe and the European Union, and have expressed their support for the formation of a European Energy Union.

This is stipulated the Memorandum of Understanding and Cooperation on Natural Gas, signed between the two countries today. The document was signed by Minister of Energy of the Republic of Bulgaria, Temenuzhka Petkova, and Minister of Economy of the Republic of Macedonia Kreshnik Bekteshi.

The Memorandum of Understanding on Energy was signed during the visit of a Bulgarian delegation to Skopje, headed by Prime Minister Boyko Borisov.

The Bulgarian and Macedonian energy experts are considering building a new direct gas connection between the two countries' gas systems.
A joint Bulgarian-Macedonian working group on natural gas has been set up, involving representatives of the Ministries of both countries, as well as experts from the gas transmission operators.

Within six months after the Memorandum comes into force, a feasibility study shall be prepared to present the technical, legal, market, economic, financial and regulatory parameters of the project. The decision to build a new gas connection between Bulgaria and Macedonia is also based on the existing gas transmission infrastructure, as well as on the future realization of the Greece-Bulgaria, Turkey-Bulgaria interconnector projects, and the concept of a common natural gas hub on the Balkans.

The two sides agreed that signing the gas memorandum would allow Macedonia to receive energy resources from the Balkan hub.

"The energy cooperation between Bulgaria and Macedonia will ensure diversification of sources and routes for natural gas supply and liberalization of the market in the region of Southeastern Europe," Minister Petkova said.

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