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

MEPs secure overhaul of EU financial regulation

The financial and economic crisis has shown that reckless behaviour of banks and other financial institutions can have serious and costly consequences for Europe's economy and its people. more »

MEPs back unspent money for local energy & transport investment

Local services that create jobs and improve energy efficiency received a boost Thursday (2 September) when MEPs on the Industry, Research and Energy Committee approved plans for more investment. more »

The European Union approves EUR 264 million to help 19 African, Caribbean and Pacific States face the consequences of the economic crisis

The European Commission approved the first financing decisions under the EUR 264 million 2010 allocation for the so-called Vulnerability FLEX mechanism to help the most vulnerable African, Caribbean and Pacific countries cope with the impact of the global financial crisis and economic downturn. more »

Commission adds two Ghanaian airlines to the EU list of air carriers subject to an operating ban

The European Commission has today updated the list of airlines banned in the European Union to impose an operating ban on one air carrier from Ghana and to place operating restrictions on another air carrier from that country. more »

€7.5 million of EU funds to help 951 former workers in marine manufacturing in Denmark find new jobs

The European Commission today approved an application from Denmark for assistance under the European Globalisation adjustment Fund (EGF). more »

Commissioner Šemeta visits China to boost cooperation in custom controls and tackling counterfeit goods

Algirdas Šemeta, EU Commissioner for Taxation, Customs Union, Anti-Fraud and Audit, will open tomorrow an international conference at the Shanghai World Expo 2010 on building bridges to facilitate trade between China and the EU. more »

€90 million EU grant to crisis-hit Moldova approved by EP Trade Committee

Moldova is set to receive an EU grant of up to €90 million to help it through the financial crisis, following a vote at Parliament's Committee on International Trade on Monday. more »

August 2010: Business Climate Indicator for the euro area remains broadly unchanged

Important notice: since May 2010 business surveys data are classified in accordance with an updated version of the Nomenclature of Economic Activities (NACE rev. 2) causing a potential break in series at this date. more »

Spring 2010 Eurobarometer: EU citizens favour stronger European economic governance

75% of Europeans think that stronger coordination of economic and financial policies among EU Member States would be effective in fighting the economic crisis, according to the Spring 2010 Eurobarometer, the bi-annual opinion poll organised by the EU. more »

State aid: Commission extends the Slovenian bank liquidity support scheme

The European Commission has extended until the end of the year the liquidity support scheme for banks in Slovenia. more »