Energy's Future Not in Large-Scale Projects, Bulgaria President Says

Bulgarian President Rosen Plevneliev has called for the creation of a genuine European energy market.

He has added Europe urgently needs to establish the Energy Union (a project embraced by the current EU Commission) based on interconnectivity and preventing the use of natural gas as a weapon.

Plevneliev has made his remarks at an event of the Globsec forum in Bratislava, Slovakia attended by him a a panelist.

"The future is not in the latest gas pipelines and projects worth billions. The future for all of us is the creation of network; the clear priority to finally create the European Energy Market," the Bulgarian National Radio quotes him as saying.

"I do not agree that energy should only consist of interests and only be an issue of geopolitics," he has made clear, opining a top goal should be the connection of national networks and the setting up of regional energy exchanges that will allow for trade at market prices.

The Energy Union has to make sure each country will have at least three different suppliers of gas, Plevneliev has emphasized.

His comments come as Bulgaria hopes to reduce dependence on natural gas coming from Russia, which is the predominant supplier accounting for around 90% of deliveries.

Interconnectors are being built with neighboring countries, with Bulgaria planning to gain access to gas from the Southern Gas Corridor.

Plevneliev has also met with Maros Sefcovic, the EU Commission Vice President for Energy Union, and discussed with him the Interconnector Greece-Bulgaria (IGB) which will link the two countries' system and completion is scheduled within months.

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