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.

Follow the link for more news on

South Korea

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

India’s Rajasthan and Gujarat need policy reforms to fuel RE transition

Some steps they could take are implementing green tariffs and setting infrastructure funds.

16 hours ago

Global clean energy tech market to hit $2t by 2035

This is fuelled by investments as countries aim to enhance energy security.The global clean energy technology market is projected to grow from $700b in 2023 to over $2t by 2035, nearing the scale of the crude oil market, according to the International Energy Agency (IEA).This growth is fuelled by significant investments in clean technology manufacturing as countries aim to enhance energy security, maintain economic competitiveness, and cut emissions. Investment is concentrated in regions with established positions in clean energy, particularly China, the European Union, the UK, and increasingly, India.Whilst the US, EU, and India have taken measures to support their clean energy sectors, China is expected to remain the world's manufacturing hub. By 2035, China's clean technology exports are forecasted to exceed $340b—comparable to projected oil export revenues from Saudi Arabia and the UAE.Southeast Asia, Latin America, and Africa contribute less than 5% of global cleantech production value, yet the IEA suggests that these areas still hold opportunities within the clean energy economy. Developing economies, for instance, could leverage competitive advantages to advance in the value chain beyond resource extraction.The IEA said Southeast Asia could become one of the most cost-effective regions for producing polysilicon and wafers for solar panels over the next decade.

16 hours ago

NSW OKs Liverpool Range Wind Farm expansion