Bulgaria and Oman Strengthen Energy Cooperation for a Sustainable Future
Key Ideas
  • Bulgaria and Oman are set to sign a Memorandum to enhance energy cooperation in oil, natural gas, hydrogen, and renewable energy production.
  • Bulgaria aims to ensure energy security by diversifying its energy supplies, including liquefied natural gas, from the terminal in Greece.
  • Both countries are keen on promoting hydrogen as a clean energy source, with Bulgaria positioning itself as a gateway for hydrogen trade in Europe.
  • The memorandum will serve as a framework for future collaborations and investments between Bulgaria and Oman in the energy sector.
Bulgaria and Oman are on track to strengthen their energy ties through a forthcoming Memorandum that will bolster cooperation in various energy sectors. The agreement, to be signed within two months, will facilitate deeper collaboration in oil, natural gas, hydrogen, and renewable energy production. Minister Malinov of Bulgaria highlighted the significance of ensuring energy security as a crucial component of national security, emphasizing the long-term goal of providing liquefied natural gas supplies. The upcoming commercial operation of the liquefied natural gas terminal near Alexandroupolis in Greece presents an opportunity for Bulgaria to secure necessary quantities for the approaching winter season. Additionally, both nations are committed to environmental sustainability, with Bulgaria striving for net zero emissions by 2050 without compromising economic competitiveness. Minister Salim Al Aufi of Oman expressed interest in Bulgaria's expertise in pumped-storage hydropower plants for energy storage. The ministers also explored the potential for cooperation in the field of hydrogen, with Bulgaria poised to become a gateway for hydrogen trade in Europe. A joint project for an intersystem connection for hydrogen, developed with Greece and endorsed by the EU, is attracting interest from Romania as well. The planned memorandum will lay the foundation for future collaborations and investments, fostering closer bilateral relations between Bulgaria and Oman in the energy domain.
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