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Oman and Bulgaria to Sign MoU to Enhance Energy Cooperation and Investments
Oman and Bulgaria will sign an MoU to boost energy collaboration, focusing on renewables, oil, gas, hydrogen, and explore Omani investments and LNG supplies for Bulgaria.
August 28, 2024. By EI News Network
Oman and Bulgaria are set to sign a Memorandum of Understanding (MoU) within the next two months to enhance their energy cooperation. As per media reports, this agreement was finalised during a recent meeting between Bulgaria’s Minister of Energy, Vladimir Malinov, and Oman’s Minister of Energy and Minerals, Eng. Salim al Aufi. The MoU aims to deepen collaboration in key areas such as oil and gas, hydrogen, renewable energy production and storage, and potential Omani investments in Bulgaria.
Bulgaria’s Minister Malinov stressed the importance of ensuring long-term liquefied natural gas (LNG) supplies, particularly with the upcoming commercial operation of the LNG terminal in Alexandroupolis, Greece, where Bulgaria is a co-shareholder. He also highlighted Bulgaria's goal of achieving net-zero emissions by 2050 while maintaining economic competitiveness. The discussions also touched on the possibility of supplying LNG to Bulgaria for the upcoming winter season.
Aufi expressed interest in Bulgaria’s expertise in operating pumped-storage hydropower plants as a means of storing renewable energy. Additionally, the ministers explored potential cooperation in the hydrogen sector, with Bulgaria aiming to serve as a gateway for hydrogen producers and traders entering the European market. This includes a project with Greece to build a hydrogen interconnector, which has received Project of Common Interest status from the EU, with Romania also showing interest.
The MoU is expected to incorporate these discussions and serve as a foundation for developing stronger bilateral energy relations between Oman and Bulgaria.
Bulgaria’s Minister Malinov stressed the importance of ensuring long-term liquefied natural gas (LNG) supplies, particularly with the upcoming commercial operation of the LNG terminal in Alexandroupolis, Greece, where Bulgaria is a co-shareholder. He also highlighted Bulgaria's goal of achieving net-zero emissions by 2050 while maintaining economic competitiveness. The discussions also touched on the possibility of supplying LNG to Bulgaria for the upcoming winter season.
Aufi expressed interest in Bulgaria’s expertise in operating pumped-storage hydropower plants as a means of storing renewable energy. Additionally, the ministers explored potential cooperation in the hydrogen sector, with Bulgaria aiming to serve as a gateway for hydrogen producers and traders entering the European market. This includes a project with Greece to build a hydrogen interconnector, which has received Project of Common Interest status from the EU, with Romania also showing interest.
The MoU is expected to incorporate these discussions and serve as a foundation for developing stronger bilateral energy relations between Oman and Bulgaria.
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