EU to Invest €217mn in Key European Energy Infrastructure Projects

The European Commission has announced that it will invest €217mn in 15 key trans-European energy infrastructure projects, mainly in central and southeastern Europe. The projects were selected from proposals submitted for funding under the funding programme, the Connecting Europe Facility (CEF).

In a statement released on January 19, the EC said that the projects, which were all chosen on the grounds of improving energy security, would help to end the isolation of vulnerable member states from EU-wide energy networks.

The projects chosen include both gas and electricity projects, with gas taking the lion's share of the funding. Nine gas projects are among those chosen and will receive combined funding of €207mn.

In relation to gas, the funding will be allocated for the study of modernising the Bulgarian gas transmission network; the Midcat project; and to connect Algerian and Spanish LNG terminals to the rest of Europe. Additionally, funding will be given to an interconnector that will link gas networks in Romania, Bulgaria, Austria, and Hungary. The statement from the EC highlighted the interconnector project as an "important development" for the EU gas market as it will facilitate the transport of gas from the Caspian region and other potential sources, including LNG, to reach central Europe.

European Commissioner for Climate Action and Energy Miguel Arias Cañete said that the funding would help to ensure security of supply.

"Today, we are targeting those regions in Europe which need it the most," he said. "With this funding we will help secure supplies and fully integrate Europe's energy market by connecting networks across Europe. We must press ahead with the modernisation of our energy networks to bring any country still isolated into the European energy market. Modern energy networks are also crucial to ensuring efficient use of our energy resources and therefore key to reaching our climate goals."