Bulgarian Govt Oks MoU with Qatar on Cooperation in Construction of Gas Infrastructure

Bulgarian Govt Oks MoU with Qatar on Cooperation in Construction of Gas Infrastructure

Bulgaria's government said on Wednesday that it has approved a Memorandum of Understanding (MoU) with Qatar envisaging cooperation in the construction of infrastructure for transportation of liquified or compressed natural gas from Qatar to Southeastern Europe. The MoU, signed by Bulgaria's energy ministry and the Qatar state in March, aims to establish the necessary base for expanding the cooperation between the two countries in the energy sector, Bulgaria's government said in a statement following its weekly meeting. The MoU also provides for the establishment of a joint working group which will look into ways for deepening the two countries' partnership in the sector. The agreement is in line with Bulgaria's strategy to diversify its energy sources. Qatar is the world's biggest producer and exporter of liquified natural gas, with a market share of some 30%. The country also holds about 14% of the world's proven gas reserves.

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