An important step in the expansion of regional energy cooperation was taken today with the signing of a new Memorandum of Understanding by the Transmission System Operators (TSOs) participating in the Vertical Corridor initiative. Bulgartransgaz and the participating TSOs formally welcomed NOMAGAS of North Macedonia and Transportgas Serbia of Serbia to the initiative, further expanding the Corridor into the Western Balkans.
The signing took place in Thessaloniki, on the sidelines of the 10th Southeast Europe Energy Forum (SEEF), in the presence of the Greek Deputy Minister for the Environment & Energy, Nikos Tsafos, the Bulgarian, Minister of Energy, Iva Petrova, the North Macedonian Minister for Energy, Mining and Mineral Resources, Sanja Božinovska, the Ukrainian Deputy Minister for Recovery, Infrastructure and Transport, Artem Rybchenko, the Serbian Assistant Minister for Energy and Mining, Jovana Joksimović, the Romanian State Secretary of Energy, Cristian-Silviu Bușoi, the Honorary Consul of Hungary in Thessaloniki, Dimitrios Takas and the Honorary Consul of Slovakia in Thessaloniki, Dimitrios Papastavrou.
The ceremony was also attended by U.S. Ambassador to Greece Kimberly Guilfoyle, U.S. Special Envoy for Energy Joshua Volz & the Chargé d'Affaires of the U.S Εmbassy at North Macedonia Nicole Varnes. With the addition of the two new members, the Vertical Corridor now brings together:
- Bulgaria: Bulgartransgaz, ICGB
- Greece: DESFA, Gastrade
- Romania: Transgaz
- Hungary: FGSZ
- Slovakia: Eustream
- Ukraine: GTSOU
- Moldova: Vestmoldtransgaz
- North Macedonia: NOMAGAS
- Serbia: Transportgas Serbia
The expansion reflects the continued cooperation among the participating TSOs, with the support of the Energy Ministers of the countries involved, strengthen security of supply, diversify supply sources and routes, and enhance regional interconnectivity.
Through the new MoU, the participating TSOs will further coordinate the development and operation of their interconnected transmission systems, focusing on optimizing the use of existing infrastructure, identifying additional infrastructure needs, enhancing bidirectional gas-flow capabilities and expanding cross-border capacity. Cooperation will also continue at regulatory, technical and commercial level, with the aim of making the Vertical Corridor more flexible, competitive and attractive to the market.
With the participation of North Macedonia and Serbia, the Vertical Corridor is expanding further into the Western Balkans, strengthening its key role as a regional energy route connecting diversified supply sources with markets across Southeast and Central Europe.
"Bulgaria plays an important role in the energy security of the Western Balkans. The development of the Vertical Gas Corridor and the inclusion of Serbia and North Macedonia in the project is a logical step towards strengthening regional integration and the security of energy supplies," noted Bulgarian Energy Minister Iva Petrova.
“The Vertical Corridor is becoming a key pillar of Europe’s energy security architecture. This project is the gateway for secure supplies of LNG from our strategic partner USA to the region, laying the foundation for our energy independence and resilience”, underlined Kiril Ravnachki, CEO of Bulgartransgaz, during the signing.
Bulgaria plays a central role in this process. By providing the necessary infrastructure in the region, we secure the availability of flexible and resilient routes for gas supplies and strengthen the European energy system.
“We will continue working with our partners to ensure that bi-directional and market-driven flows through the Vertical Gas Corridor will meet the demand for diversified gas supplies to Eastern, South-Eastern and Central Europe”, Ravnachki also added.
The new MoU reinforces the participating TSOs' commitment to the further development of the Vertical Corridor as a strategic component of the region’s energy security and interconnectivity.
