"Implementation of the Vertical corridor will guarantee access to secure sources from the US and the Caspian region, diversification of sources, better prices for Bulgarian households and business and a real opportunity for a complete ban on Russian natural gas." This was emphasized by the Executive Director of Bulgartransgaz EAD, Vladimir Malinov during inspection of the progress of project's implementation in the section from Rupcha to Vetrino. The event, which took place in Vetrino region, was attended by the European Commissioner for Energy and Housing Dan Jørgensen, the Minister of Energy of Bulgaria Zhecho Stankov, representatives of the gas operators of the countries participating in the project, and others.
"It is precisely at the moment when Europe is taking the last decisive step to abandon Russian natural gas that it is clear how correct and timely the decision we made together with our fellow operators is - to launch the Vertical Gas Corridor initiative. In this way, we contribute with our key role to total abandonment of Russian natural gas," Malinov added.
In his words, the decision to implement the project is also supported by data on the natural gas market in the region. "The capacities that Bulgartransgaz currently offers in direction from Bulgaria to Romania have been booked at over 70% for the current gas year. On a daily basis, we reach an average of 90% utilization of the existing capacity."
"With the infrastructure being built on Bulgarian territory, the capacity from Greece to Bulgaria will increase by over 50% and from Bulgaria to Romania by nearly 100%. Our ambition is to have it built by the beginning of the next gas year," Malinov stated. “This would be fully in line with the European Commission’s objectives to replace Russian natural gas with long-term reliable sources such as liquefied natural gas from the US and other sources, including the Caspian region,” he added.
At the end of his speech, Malinov addressed Commissioner Jørgensen with the words: “Let's make energy great again under your leadership.”
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