EU invests 217 million euro in cross-border energy infrastructureJanuary 20, 2016
Hat: EU countries agreed on a Commission proposal to invest €217 million in key trans-European energy infrastructure projects
Funding Scheme: 2016-01-20
Pgm2014 2020: Yes
EU member states yesterday approved a plan to invest 217 million euro in the cross-border energy grid, especially in Central and Eastern Europe and between Britain and France.
The European Commission is seeking to improve power and gas connections across the European Union’s 28 member states, in order to allow better distribution of available supplies as part of a single energy market.
The EU is keen to reduce reliance on Russia, which supplies about a third of EU oil and gas.
The dominant position of Russia’s Gazprom has become particularly divisive since relations between Brussels and Moscow deteriorated after Russia seized the Crimean region of Ukraine in 2014.
The Commission wants every member state to have at least three possible sources of gas.
Of the 15 proposals selected for total funding of €217 million, nine are in the gas sector and six in the electricity sector.
Called projects of common interest because they benefit more than one member state, the projects are entitled to accelerated planning permission as well as EU funding, which the Commission hopes will attract private sector cash.
Most of the 15 projects are in central and southeastern Europe, where dependency on Russian gas is most marked. They include studies to modernise the Bulgarian gas transmission network and interconnectors linking gas networks in Romania, Bulgaria, Austria and Hungary.
Spain will get its share as well, with studies to link up the Iberian Peninsula with France, and connect gas supplies from Algeria and Spanish LNG terminals with the rest of Europe.
The new funding will also help pay for a grid link between France and Britain being built by Britain’s National Grid and France’s Reseau de Transport d’Electricite (RTE).
Britain is not directly affected by the Russian crisis as it is not dependent on its gas, but it is nervous about the adequacy of national supplies and the extra costs it might incur from emergency back up plans.
Url description: Euractiv