Regional energy security: Ministers Junghietu and Shmyhal discuss the use of Ukraine’s underground gas storage facilities
Ukraine’s underground gas storage facilities could strengthen regional energy security. Moldova’s Energy Minister, Dorin Junghietu, discussed potential cooperation with his Ukrainian counterpart, Denys Shmyhal, during Baku Energy Week, one of the region’s leading energy events.
The talks focused on deeper energy cooperation, integration of national energy markets into the European market, and stronger regional energy security. The ministers reviewed opportunities to expand cooperation through the Vertical Gas Corridor and reaffirmed Moldova and Ukraine’s shared goals of European integration and the development of modern, resilient energy markets.
The Vertical Corridor, which includes the Trans-Balkan pipeline, serves as a strategic route for natural gas supplies across Eastern and Southeastern Europe. Moldova and Ukraine joined the initiative in 2024.
Speaking at Baku Energy Week, Moldova’s Energy Minister Dorin Junghietu said that green energy delivers “long term security and stability.” He stressed that diversifying energy sources has become not only an economic priority for Moldova but also a matter of national security and the foundation of energy resilience.
Over the past five years, Moldova’s installed renewable energy capacity has increased twelvefold, surpassing 1 GW. Investments in energy infrastructure and regional interconnection projects remain key priorities.
Junghietu also met with Azerbaijan’s Economy Minister, Mikayil Jabbarov, and senior representatives of SOCAR. He reaffirmed Moldova’s interest in attracting investment in projects that meet European standards and discussed potential cooperation with SOCAR on competitive supplies of petroleum products and natural gas.
Moldova is also introducing mandatory strategic petroleum reserves equivalent to 90 days of imports. Parliament approved the initiative in its first reading on May 28. The reserves will be built jointly by the public and private sectors and gradually expanded through 2034. At least half will be stored in Moldova, while the remainder may be held abroad or maintained in nonmaterial form.
The 31st Baku Energy Week, supported by Azerbaijan’s Ministry of Energy, brought together energy sector representatives from 45 countries.
