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Energy projects key to EC development plans
Natural gas projects form a key part of the €315bn development plan released before Christmas by the European Commission, writes Keith Nuthall.
As a cornerstone of EU pro-growth policies of new Commission President Jean-Claude Juncker, there are plans to leverage public funds, via the European Investment Bank in particular, to generate private capital. The initiative will target projects that the Commission regards as critical to underpin EU economic growth. Energy infrastructure plans are an important component.
Background documents released by the Commission detail a variety of major gas projects and a limited number of oil initiatives. They include a number of ‘projects of common interest’ for which the Commission wants to secure a total of €50bn investment by 2017.
Key projects include connecting Malta to the European gas network, with a new 150 km pipeline to Sicily; enabling reverse flows of gas between Britain and Ireland; building an onshore LNG terminal in Gothenburg, Sweden; constructing a reverse-flow gas connector pipeline between Romania and Bulgaria; optimising gas compressor stations linking Belgium and the Netherlands; building a gas pipeline between Hungary and Austria and creating a new floating LNG terminal in northern Greece. Other gas projects highlighted include investments in gas smart metering, including a €1bn project in France and €352mn scheme in Austria.
Poland’s gas sector looks set be a strong beneficiary of the programme, with 20 gas development projects identified, including a number of pipeline projects – such as building the 72 km Hermanowice-Strachocina gas pipeline – and construction of underground gas storage in central Poland with an interconnecting gas pipeline for €573mn. That said, there are specific budgeted gas projects for most EU countries, including building the Klaipeda-Kuršėnai transmission pipeline in Lithuania for more than €50mn.
Among the handful of oil projects targeted by the plan is a €50mn scheme to decontaminate former oil production sites in Romania.
News Item details
Journal title: Petroleum Review
Region: European Union
Countries: Europe -
Subjects: Policy and Governance, Natural gas
