site.btaEnergy Minister Nikolov: Coordinated Efforts, Solidarity Are Key to Overcoming Energy Price Crisis

Coordinated joint efforts and solidarity between countries are of vital importance to tackle the energy price crisis, said Energy Minister Alexander Nikolov during the 2022 Global Energy Forum in Dubai on Monday. During the panel on energy crisis in the EU, Nikolov gave the temporary aid framework as an example of an essential measure for providing affordable, secure, and sustainable energy at European level.

According to Nikolov, the key efforts are related to accelerated and streamlined introduction of energy from renewable sources and clean gases, with emphasis on natural gas and hydrogen, as well as the immediate completion of the missing energy infrastructure. This process is supposed to consider the national specificities and to fully respect the right of the EU Member States to choose the most appropriate energy solutions for their energy mix.

The Minister also pointed out the need for preparing the energy systems for the upcoming winter season as a security condition for the energy supply. Immediate action to refill the gas storage facilities must be taken according to Nikolov. The current situation requires a critical review of the EU's energy security and supply diversification policy, as well as the priorities for critical infrastructure and funding policy.

Nikolov was positive that efforts to establish a common approach at EU-level for the use of strategic oil stocks in case of emergency situations must persist.