Bulgaria and Albania strengthen energy cooperation

The development of the European Energy Corridor VIII project and the prospects for bilateral cooperation in the sector were discussed by Bulgaria’s Minister of Energy, Vladimir Malinov and the Deputy Prime Minister and Minister of Energy of Albania, Belinda Balluku. In order to deepen the bilateral relations between Bulgaria and Albania, a Memorandum on energy cooperation will be signed in Sofia. The two ministers agreed on this during a meeting held within COP29.

Vladimir Malinov emphasised the role of Bulgaria as an important regional energy factor. According to him, Bulgaria has already made significant progress in achieving energy security and diversification of sources.

“Thanks to integration of natural gas and electricity markets in Central and South Eastern Europe, energy supplies for consumers in the region are guaranteed,” he underlined.

Mr Malinov recalled that since the beginning of October this year, our country has been receiving natural gas supplies from alternative sources and from the terminal in Alexandroupolis, in which it participates with a 20 per cent share.

The two ministers were unanimous that the countries would work together in the process of achieving energy transformation. In this regard, the Bulgarian side will share its experience regarding the development of renewable sources, storage of electricity from RES and energy efficiency. Minister Malinov informed his colleague on the progress of our country in the implementation of large-scale RES projects, performed in line with the National Recovery and Resilience Plan. Successful realisation of the approved projects will add about 3,000 megawatts (MW) of installed RES capacity and more than 1,000 MW of storage capacity.