U.S. Assistant Secretary for Energy Resources Geoffrey Pyatt congratulated Bulgaria on the extraordinary progress in terms of security and diversification of energy supplies at the opening of the Explore U.S. Conference 2022 here on Thursday.
The forum is organized by the American Chamber of Commerce in Bulgaria and the Bulgarian Small and Medium Enterprises Promotion Agency, and is attended by the Ministers of Economy, Innovation and Growth, and US Ambassador Herro Mustafa.
Pyatt pointed out that Bulgaria has launched activities to diversify natural gas supplies and to establish gas connections with neighbouring countries. According to him, achieving independence from Russian gas is linked to Russia's unprovoked invasion of Ukraine and the subsequent problems with natural gas supplies.
He added that President Biden and the US are helping Europe solve the global energy problems related to Russia's invasion of Ukraine.
The big news for the US is that the transformation of the economy is not just a means to curb the impact of Russia's invasion of Ukraine, but also one for achieving climate change goals, Pyatt said, adding that USD 37 billion are earmarked for energy transformation over 10 years.
Separately, there is a USD 500 billion energy infrastructure change bill, which will seek a major transformation of the energy sector and the introduction of innovation, such as wind, solar, and other measures to transform the US energy sector, Pyatt said, adding that the Recovery and Resilience Plan and the EU Green Pact are also very important for the large-scale energy transformation.
The US has the capacity to export natural gas, and President Biden has focused on revitalising the economy, on modernization, and on cleaner energy, where innovation is key, he said.
According to Geoffrey Pyatt, there are opportunities for a US-British strategic partnership in energy, which can be used to overcome energy price challenges.
/RY/
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