by Thea Pieridou
Press Officer of the European Parliament Office in Cyprus
While in Cyprus planning continues, so that Cyprus can have access to, and use, natural gas, in Brussels the MEPs want to stop the financing of natural gas projects.
The Committee on Industry, Research and Energy of the European Parliament (EP) adopted on 28 September (50 in favor, 13 against, 12 abstentions) its position on the criteria and methodology for the selection of energy projects of common interest (PCIs: projects of common interest), such as high-voltage power lines, pipelines, power storage facilities and "smart" networks, which will benefit from fast-track administrative procedures and be eligible for EU funding.
MEPs in the relevant EP parliamentary committee supported funding for the development of hydrogen infrastructure, such as electrolytes, as well as carbon capture and storage. All energy projects to be financed are aimed at sustainable cross-border infrastructure, in line with the Europe Green Agreement. Eligible projects should also promote market integration and increase security of supply.
According to the rules proposed by the EP, gas-based projects will no longer be eligible for EU funding. However, a temporary derogation will allow, under strict conditions, gas projects from the fourth or fifth list of projects of common interest be eligible for expedited licensing process (The European Commission updates the list of projects of common interest every two years and the fifth list will be selected by the end of 2021).
The selected projects should help Member States to abandon solid fossil fuels such as coal, lignite, peat, and oil shale. MEPs also proposed funding for projects that reuse existing gas infrastructure to transport or store hydrogen.
Finally, an important parameter is not to pass on the cost of the works to the consumers. MEPs reiterated that eligible projects must comply with the "energy efficiency priority" principle, which states that energy efficiency is the easiest way to save money for consumers and reduce greenhouse gas emissions. The cost of the projects should ensure that end-users are not disproportionately burdened, especially if this could lead to energy poverty.
