EU's biggest-ever energy package

Published: 5 March 2010 y., Friday

Elektros lemputės
43 gas and electricity projects to split €2.3bn, the most the EU has ever spent on energy infrastructure in a single package.

Gas pipelines account for 31 of the projects and include the Nabucco project running from the Caspian Sea region to Austria via Turkey and the Galsi project from Algeria to Italy via Sardinia. Twelve other projects involve upgrading connections between power grids to link fringe countries like Ireland, Malta, Lithuania, Latvia and Estonia to the wider EU energy network.

The package uses up the last of the €3.98bn the EU set aside during the recession to give the economy a boost. The projects are expected to create jobs and help small businesses survive tough times, especially those in construction and services. In providing an initial outlay, the EU contribution could lever up to €22bn in private investment.

Moreover, they will diversify gas imports and improve the flow of energy across European borders, says Günther Oettinger, the new energy commissioner.

“Never before has the commission agreed such an important amount for energy projects,” he said, adding that the funding will help keep energy investments on track during tough times.

“Europe's energy and climate objectives require large and risky infrastructure investments with long pay-back times. The problem is that, in today's economic climate, such projects risk being delayed.”

The first batch of grants was announced in December. Worth €1.5bn, it went to 9 offshore wind parks and 6 projects for burying climate-changing carbon.

More than 50% of the EU\'s energy comes from countries outside the bloc. Much of that originates in Russia, whose disputes with the Ukraine and other transit countries have disrupted gas supplies in recent years.

 

Šaltinis: ec.europa.eu
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Financing the fight against climate change

Commission sets out first finance proposals for Copenhagen pact on climate change. more »

US$ 39.5 Million Loan to Support Small-Scale Family Agriculture in Brazil

The World Bank today approved a US$39.5 million loan for the Rio de Janeiro Sustainable Rural Development Project in southeastern Brazil. more »

WB Grants Additional US$7.8 Million to the Peace and Development Project in Colombia

The World Bank Board of Executive Directors approved today an additional US$7.8 million for the Colombia Peace and Development Project. more »

11 September 2009 - Statistics on payments and securities trading, clearing and settlement – data for 2008

In 2008, the total number of non-cash payments, using all types of instruments, increased by 5% to 78 billion in the EU. more »

Interview with Sharon Bowles - Head of the Economic and Monetary Affairs Committee

Current economic indicators seem to show a cautious recovery in some of the biggest European economies, such as Germany and France. more »

Palapa-D communications satellite now in geostationary orbit

Launch Early Operation Phase (LEOP) has been successfully completed and the Palapa-D communications satellite is now in the nominal geostationary orbit (GEO). more »

Šarūnas Nedzinskas elected to AB DnB NORD Bankas Management Board

The Supervisory Council of AB DnB NORD Bankas on 8 September 2009 elected Šarūnas Nedzinskas as a member of the bank‘s Management Board. more »

Europe's milk crisis: Chair of Agriculture Committee De Castro on the causes

In the last few months farmers across Europe have taken their tractors to the streets to protest at what is being termed the biggest milk crisis for decades. more »

eCall road accident alarm system – European mobile phone companies agree to help.

Mobile telecoms companies have pledged to support the EU’s campaign to equip new cars with a device that would automatically call for help in the event of an accident. more »

Mobility programme promotes entrepreneurship and innovation

Nordic and Baltic countries aim to strengthen cooperation of business and industry stakeholders. more »