Transmission system operators of Bulgaria, Romania, Hungary and Slovakia and SOCAR signed a Memorandum of Understanding on encouriging cooperation

The Memorandum of Understanding for encouraging cooperation between Bulgartransgaz (Bulgaria), Transgaz (Romania), FGSZ (Hungary), Eustream (Slovakia) and the State Oil Company of the Azerbaijan Republic (SOCAR) has been signed. 
President of the Republic of Azerbaijan Ilham Aliyev and President of the Republic of Bulgaria Rumen Radev attended the signing ceremony. EU Commissioner for Energy Kadri Simson joined the event in an online format. The Memorandum of Understanding was signed by Minister of Energy of Azerbaijan Parviz Shahbazov, Minister of Energy of Bulgaria Rossen Hristov, Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto, Minister of Energy of Romania Virgil-Daniel Popescu and Minister of Economy of Slovakia Karel Hirman.
The Memorandum of Understanding sets out directions of cooperation between SOCAR and four distribution system operators for the supply of additional gas from Azerbaijan to Europe. The additional gas will be supplied through the upgraded transmission network systems of Bulgaria, Romania, Hungary and Slovakia called the “Solidarity ring”.
Speaking at the signing ceremony, Energy Minister Parviz Shahbazov said that as a contribution to the policies and services of our state leaders that ensure high-level relations, solidarity and strategic partnership between our countries, joint cooperation was signed in a new direction of natural gas supply from Azerbaijan to Europe: “The signing of this document is an important step in the implementation of the "Solidarity ring" initiative.  This new project will provide access to new markets by alternative routes for Azerbaijani gas, which has been playing a strategic role in reliable and stable energy supply of our partners thanks to the Southern Gas Corridor for more than two years.” 
The importance of improving infrastructures on the “Solidarity ring route was mentioned in the speech and it was noted that cooperation on this initiative will contribute to the implementation of the Memorandum of Understanding between Azerbaijan and the European Union on strategic partnership in the field of energy.