Vladimir Malinov: Natural gas will be one of the transitional fuels for achieving a green economy

Vladimir Malinov: Natural gas will be one of the transitional fuels for achieving a green economy

“Various carbon capture and utilization technologies are being developed that will allow the ‘blue’ fuel to also have a green, carbon-neutral status.” When talking about natural gas, the first associations are that it is Russian, expensive and dirty, but this is not the case. It will be one of the transitional fuels for carrying out the transformation and achieving a low-carbon economy”. This was said by the executive director of Bulgartransgaz EAD Vladimir Malinov, who participated in the panel “Energy security of the countries in the region”, within the framework of the regional forum for the Green Transformation – Green Transition.

“The consumption of Russian natural gas in the European Union is between 10 and 15%,” Malinov emphasized. “The quantities in our country are currently delivered from the Caspian region, the quantities of liquefied natural gas originating in the United States of America, North Africa and the Middle East are increasingly significant. Norway is also an important supplier for Europe,” he added.

Regarding the price, Malinov clarified that the situation has normalized since last year. According to him, through long-term supply contracts from new deposits in the USA, for example, more competitive prices can be achieved. “In the next 10-15 years, liquefied natural gas will continue to play a key role. That is why “Bulgartransgaz” EAD is strengthening its investments for the development of the gas transmission system. For example, after the construction of the Bulgaria-Serbia interconnector, our neighbors will get access to liquefied natural gas, and Bulgaria will get access to markets in Central Europe,” said Malinov.

Among the leading topics during the forum was the future of hydrogen. In 2021, the Bulgarian gas transmission operator Bulgartransgaz EAD and the Greek DESFA signed a letter of intent for cooperation in the field of hydrogen. The companies are members of two hydrogen organizations – “European Clean Hydrogen Alliance” and “European Hydrogen Backbone”. The gas transmission operators of Bulgaria and Greece are working on a concept for adapting the existing gas transmission system so that it can carry hydrogen, as well as on building a new hydrogen infrastructure. “To enable hydrogen to be affordable, European solidarity is needed. The greening of economies requires us to act as a team with a common approach,” added Malinov.