NEWS

President Radev: Solidarity Ring Initiative Exemplifies Successful Cooperation to Enhance Europe's Energy Security

In the presence of Rumen Radev and Ilham Aliyev in Sofia, a memorandum on cooperation was signed between the gas transmission systems of Bulgaria, Romania, Hungary, Slovakia and the state oil company of Azerbaijan

The Solidarity Ring initiative is an example of the successful finding of efficient solutions, new routes and ways to supply gas to Europe by redrawing the map of international logistics. The initiative is based on cooperation and solidarity, which have taken on new dimensions since the war in Ukraine. This is what President Rumen Radev said at the signing ceremony in Sofia today of a Memorandum of Understanding to promote cooperation between the gas transmission system operators of Bulgaria (Bulgartransgaz), Romania (Transgaz), Hungary (FGSZ), Slovakia (Eustream), as well as the state oil company of the Republic of Azerbaijan (SOCAR). The event was held within the framework of the visit of Azerbaijani President Ilham Aliyev.
 
In the presence of Presidents Rumen Radev and Ilham Aliyev, the Memorandum was signed by the Minister of Energy of the Republic of Bulgaria, Rossen Hristov, the Minister of Energy of Romania, Virgil-Daniel Popescu, the Minister of Foreign Affairs and Trade of Hungary, Peter Szijjarto, the Minister of Economy of the Slovak Republic, Karel Hirman and the Minister of Energy of the Republic of Azerbaijan, Parviz Shahbazov. Efforts to implement the initiative started last year with Bulgaria's active role, and today the Bulgarian President expressed appreciation for the timely actions of the ministers from the five countries.
 
Rumen Radev pointed out that the Solidarity Ring provides an opportunity for security of supply and diversification for Central and Southeastern Europe in a fast, efficient and cheap way by transporting additional quantities of gas from Azerbaijan. During the ceremony, the Bulgarian President also pointed out that the Memorandum not only consolidates the successful partnership between the five countries, but will also lead to enhancing the connectivity and capacity of the gas transmission network of the countries in the region. Just when our partners need secure and reliable supplies the most, we have together made sure that we achieve diversification, Rumen Radev said. In his words, the signing of the Memorandum today is an important milestone for achieving higher ambitions and initiating new projects that involve the transmission of the energy of the future - green hydrogen.
 
The success of today's achievement is largely due to the fact that Bulgaria and Azerbaijan have a successful, long-term strategic partnership, which has been developing at a new stage in recent years, especially in the energy sector, Rumen Radev said. In his words, Azerbaijan has proven to be a reliable partner not only of this country, but also of the European Union. The Bulgarian head of State expressed gratitude for the support of the European Commission for the Solidarity Ring, as well as the Turkish and Greek sides.

Bulgaria and Azerbaijan are not only strategic partners but also friends, President Ilham Aliyev said, welcoming the actions of Bulgaria and the Bulgarian President to achieve diversification of energy resources and energy security. Ilham Aliyev pointed out that the Memorandum signed today contributes to more European countries receiving gas from Azerbaijan. We continue to work actively with Europe, Aliyev said, highlighting the potential of renewable energy projects as well as hydrogen.

In a video address to the forum, EU Energy Commissioner Kadri Simson said that, given the Central and Eastern European region's dependence on Russian gas and the suspension of supplies, the European Commission was ready to support the member states in their diversification efforts. This Memorandum is therefore of crucial importance – it will provide a framework for further development of alternative routes for gas supplies in the region, at the same time Azerbaijan has proven to be a reliable partner for the EU, Simson said in her address.
 
After the ceremony, Rumen Radev and Ilham Aliyev officially opened SOCAR's office in Sofia. The two presidents also held a one-on-one meeting.