Tsvetelina Penkova, MEP: Bulgaria could be a key transit hub on the energy map of Europe

Bulgaria could become a key transit hub for Europe, commented Bulgarian MEP Tsvetelina Penkova from the Bulgarian Socialist Party (BSP) in an interview on the BNT programme "More from the Day" on January 7. Penkova, who is also the President of the European Energy Forum, discussed the cessation of Russian gas to Europe at the beginning of the year.

“Bulgaria is in a very favourable strategic position amid the growing energy crisis in Europe. Bulgaria could become a key transit hub for Europe,” Penkova said.

She emphasized three essential factors that could position Bulgaria as a crucial energy hub for Europe:

"Long-term stability and predictability; resources and human capital;
Infrastructure. Our country has these three components," the President of the European Energy Forum said.

She also commented that the shutdown of Russian gas will certainly have serious consequences for Europe and pointed out that each country is looking for its own way to deal with the challenge, which is not the most strategic approach.

“Addressing these crises individually within the EU is more expensive," Penkova said.

She cited examples of countries facing similar issues.

"For instance, Moldova has 51,000 households without electricity and is now purchasing gas from Romania at higher prices, affecting consumers. In Slovakia, electricity prices for consumers have risen by 12%, and by 18% for industry. In Austria, natural gas prices have increased by over 20%." she said.

Penkova also expressed concern about the Recovery Plan, noting that deadlines are approaching.

The MEP stressed the importance of Bulgaria having a stable government.

“Our strategic partners expect stability, Bulgarian citizens expect low prices and peace of mind, and our industry needs predictability. All of these prerequisites can only be provided by a regular government," Penkova concluded.

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