South Korea, Bulgaria expand energy cooperation to include LNG, energy storage

They also discussed possible nuclear power collaboration.

South Korea’s Trade, Industry and Energy Minister Dukgeun Ahn and Bulgaria's caretaker Minister of Energy Vladimir Malinov have signed a memorandum of understanding expanding the two countries’ cooperation in the energy sector.

In a statement, Korea’s trade ministry said the revised energy cooperation, initially signed in 2019, will cover liquefied natural gas, energy storage, and supply chains, in addition to existing areas of cooperation. Furthermore, it provides more specific details on nuclear energy cooperation, encompassing new nuclear power plant construction, continued operation, decommissioning, radioactive waste management, small modular reactors, and manpower training.

Ahn noted that prospects for bilateral cooperation are high, as Bulgaria is actively harnessing clean energy sources like nuclear power and renewables, whilst Korea is accelerating efforts to attain energy security and carbon neutrality based on carbon-free energy sources.

The Korean official also introduced his country’s Carbon Free Energy Initiative, aimed at achieving carbon neutrality through diverse carbon-free energy sources, and sought Bulgaria's support and interest in its global promotion.