2024-08-31 23:05:33
The Council of Ministers adopted a draft Memorandum on Energy Cooperation with the Republic of Korea
The ministerial council approved a draft Memorandum of Understanding on cooperation in the field of energy between the Ministry of Energy of the Republic of Bulgaria and the Ministry of Trade, Industry and Energy of the Republic of Korea. The purpose of the document is to create a framework for strengthening bilateral relations.
The Republic of Korea is one of our country’s most promising partners in the East Asian region. The experience of the Asian country is valuable in the search for solutions to overcome the problems surrounding climate change, in the use of renewable energy sources and increasing energy efficiency, in nuclear energy, new technologies and others.
Korea has expressed interest in investments in new energy technologies and nuclear energy in our country. Bulgarian nuclear energy has an important role to play in ensuring national and regional energy security, while at the same time providing services at affordable prices and being a key element in achieving carbon neutrality.
The document will promote cooperation between companies from both countries in the implementation of new investments in the production of energy from renewable sources, as well as in the construction of energy storage facilities. Exchange of knowledge and good practices between companies and institutions in the field of natural gas, cooperation in the global liquefied natural gas market and others are also envisaged.