Sofia is interested in joint purchases of liquefied natural gas with Seoul

The Bulgarian Ministry of Energy in Bulgaria and the Ministry of Trade, Industry and Energy in the Republic of Korea will prepare and sign a cooperation agreement to promote mutual contacts in the energy sphere.

This was agreed upon by the Acting Minister of Energy, Vladimir Malinov, and the Ambassador of the Republic of Korea to Bulgaria, H.E. Be Jengin.

"The Bulgarian side is very interested in deepening its cooperation with the Republic of Korea in the energy field, where we have serious potential for development," said Malinov. According to him, the deepening of bilateral relations based on the high technological development of the Asian country and the Bulgarian experience and traditions will provide excellent prospects for the exchange of know-how and expertise between the two countries.

Nuclear energy is only one of the potential areas for deepening cooperation, but this process can also cover the development of RES, storage systems and natural gas, Minister Malinov and Ambassador Jengin agreed. The Bulgarian Ministry of Trade, Industry and Energy reminds that by a decision of the National Assembly of February 23, 2024, the South Korean company "Hyundai Engineering and Construction" was selected to conduct negotiations for a potential builder of units 7 and 8 of the Kozloduy Nuclear Power Plant (NPP) with AR 1000 technology of the American Westinghouse Electric Corporation.

"This project is among the key priorities of the current government in energy. It is of strategic importance both for energy security and for the successful implementation of decarbonization goals," emphasized Vladimir Malinov.

Potential cooperation in the liquefied natural gas market was another topic discussed between Malinov and Jengin. The Republic of Korea is one of the largest importers of energy products in the world. The Bulgarian side has a serious interest in joint purchases, which can provide additional diversification and energy security, informed Malinov. /BGNES