Svetoslav Ivanov: “Yes to a Green Transition! However, Wisely and Pragmatically!”

Svetoslav Ivanov, Chair of the Bulgarian Natural Gas Association, moderated one of the discussions during Green Transition Forum 4.0 held from 26 to 28 June at Sofia Event Center.

The panel was titled “Energy Transformation – a Balanced and Sustainable Mix and Expanding Interconnected Networks” and included Angelin Tsachev, Director and Member of the Management Board of the Electricity System Operator (ESO); Ivan Velev, Portfolio Manager, АСТ Commodities; Kiril Ravnachki, Chief Executive Officer of Bulgartransgaz; Peter Fildishev, Head of Gas Trading and Operations, MET Energy Trading Bulgaria; Teodora Georgieva, Executive Officer of ICGB; and Svetoslav Benchev, Chair of the Board of the Bulgarian Petrol and Gas Association (BPGA).

Svetoslav Ivanov, who is also Executive Director of Overgas Inc., drew attention to the question about a rational approach to any type of reform and transformation. “We live in a highly dynamic world and, especially when we talk about energy, changes come so quickly that the time between the decision to make a change and the practical implementation of the change leaves us no chance to analyse the possible consequences and to assess the positive or negative changes,” Svetoslav Ivanov emphasised. He pointed out that the energy sector worked based on the trial-and-error approach. In his opinion, Bulgaria should certainly make use of the existing gas distribution network of 6,000 km which is also ready to transport a large quantity of green hydrogen.

The discussion dwelt on various aspects of the so called “green transformation”, matters related to the electricity system and the swift connection of RES, the new gas corridors and, especially, the so called Vertical Gas Corridor, the expansion of the gas storage in Chiren, the future of oil exploration globally, and the need for a rich energy mix which is not partial to electricity. The participants emphasized the fact that it would be irrational to give up on certain energy sources ahead of time under European Union pressure.

At the end of the discussion, Svetoslav Ivanov summarized the conclusions the participants reached: yes to a Green Transition; however, wisely and pragmatically. Secondly, more markets and less administration – this is useful, not scary.