Moldova can play an important role in strengthening the energy security of the entire region by contributing to the expansion of the transportation capacities of the Vertical Gas Corridor - Energy Ministry
The statement was made by Energy Minister Victor Parlicov during a meeting with his Hungarian counterpart Csaba Lantos, which took place in Budapest within the ministerial meeting of the Central and South-Eastern Europe Energy Connectivity Group (CESEC), taking place in the Hungarian capital these days. Victor Parlicov emphasized that Moldova is the first country to demonstrate the viability of the Vertical Gas Corridor, and by contributing to the increase of its transport capacities, Moldova will make a great contribution to enhancing the energy security of the entire region. “Moldova was the first to demonstrate the viability of the Vertical Gas Corridor, both from a technical point of view, by making Energocom the first company to transport gas along the entire route from Alexandroupolis to the underground gas storage facilities in Ukraine, and from an economic point of view, by creating conditions for a business model that was previously only available to Gazprom.” Now Moldova could play an important role in strengthening the energy security of the whole region, as it could contribute to the expansion and facilitation of transportation capacities on this route,” the Moldovan Energy Minister said. In this context, the sides stressed the importance of increasing the transport capacity of natural gas through the Vertical Gas Corridor, as well as the need to allocate EU financing for the necessary infrastructure and reinforcement of the gas pipeline's capacities, which will make it possible to strengthen the regional energy security, as well as play an important role in terms of reducing the transportation costs and integrating the regional gas market into the European market. Victor Parlicov expressed gratitude to Hungary for supporting the increase of the net power transmission capacity between the ENTSO-E continental energy system and the Ukraine-Moldova block synchronized with it in 2022, which will make it possible to increase, if necessary, the electricity supplies to Moldova from the European market. The Ministerial Meeting of the Central and South-Eastern Europe Energy Interconnection Group (CESEC) taking place in Budapest is organized by the Hungarian Ministry of Energy and the European Commission. CESEC ministers last met in January in Athens to define new strategic directions for the Group and approve a comprehensive update of the CESEC Action Plans. The Budapest meeting aims to enhance security of energy supply and regional efforts to diversify gas supply sources, as well as to accelerate the use of renewable energy, increase electricity market integration and energy interconnection. // 29.10.2024 - InfoMarket
