They sign an agreement that includes the construction of an oil pipeline that guarantees supply to both countries
The Greek Prime Minister, Kyriakos Mitsotakis, received the President of the Republic of Bulgaria, Rumen Radev, at the Presidential Palace to agree on the construction of Pipeline Which allows both countries complete energy independence from Russia.
The meeting, which was attended by the energy ministers of the two countries, concluded with the signing of two agreements. The first relates to the supply and storage of natural gas, and the second opens up the possibility of building a new oil pipeline between the ports of Alexandroupolis and Bourgas. In this way, the fuel will reach Greece in oil tankers and will be distributed throughout Bulgaria thanks to the new pipeline. It should be noted that Russia stopped supplying natural gas to Bulgaria a year ago due to European Union sanctions against Russia after the start of the armed conflict against Ukraine.
Radev announced that the agreement “exceeds the borders between the two countries” and may include the supply of natural gas and diesel to the entire Balkan region. For his part, Mitsotakis stressed the strategic importance of this agreement, as it “represents another step in Energy independence in Europe In relation to Russia ‘it gives Greek and Bulgarian companies the opportunity to stockpile fuel within the borders of the other state, thus ensuring a steady supply of energy.
The energy crisis that erupted after the outbreak of the war in Ukraine radically changed the trade relations between the various European Union countries. In the face of European sanctions against Russia, the old continent was forced to look for solutions Do not allow credit of Russian fuel. It should also be noted that last December, the G7 countries and the European Union set the price of a barrel of Russian oil at $60 as a way to reduce the income Russia gets from exporting crude oil. They use it to fund the war in Ukraine.
In this way, countries such as Great Britain, Spain and the Netherlands became, for the first time, energy exporters. In this sense, these agreements of understanding between Greece and Bulgaria mean the expansion of new European energy supply networks.
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