Bulgarian Minister of Foreign Affairs Daniel Mitov is on an official visit to Greece on Wednesday, October 21, at the invitation of his Greek counterpart Nikos Kotzias.

After meeting both officials held a press conference, making statements.

“The interconnector between Greece and Bulgaria is the most important connection of the future European Energy Union,” said Minister Mitov, speaking at the event.

In his words, the main effect to be produced by building the interconnector between both countries is related to diversification of energy sources and mutual connectivity between energy systems.

““Diversification” and “mutual connectivity” are key words when speaking about the application of the future European Energy Union and Greece is a key partner in [energy] sources diversification,” Daniel Mitov noted.

He stated Bulgaria would rely greatly on the Southern Gas Corridor and future plans for building an LNG terminal in Greece.

“The future building of the Bulgaria-Greece interconnector will guarantee the deliveries of gas to Northern Europe through Bulgaria and Romania as well as to Western Europe through Serbia. Reverse flow connections will guarantee the flow of gas will move to Bulgaria from other sources, too,” Minister Mitov commented.

In his words, this will create real gas markets in the EU, where gas prices will go down.

“It will be thus guaranteed Europe or EU member states will not be 100% dependent on one gas source, as is the case with Bulgaria now,” Daniel Mitov added.

He was explicit the dialogue between the Bulgarian and Greek energy ministers was highly productive.

“We hope the technical issues will be very soon resolved and we will continue by inking the final agreement. We would like to know what the full capacity of the interconnector between Greece and Bulgaria will be as what is seen at present is a good beginning but more is needed as our region will be strategic for the transfer of natural resources in the future,” the Bulgarian Minister of Foreign Affairs remarked.

Greek counterpart Nikos Kotzias expressed his agreement with Mitov’s stance.

“I think the world is changing and energy sources are changing. The USA has the cheapest natural gas. There is a very large deposit in Egypt and Iraqi Kurdistan. The end of the embargo on Iran will also lead to gas deliveries from there. And it would be good for them to reach our countries. We would thus have security through competition. For this reason cooperation with Bulgaria is so important,” Kotzias noted.