New rules for the selection of energy projects eligible for European funding and for further alignment of the current directive with the Green Deal were adopted today by the plenary of the European Parliament, ending the energy isolation of Cyprus and Malta and maintaining the designation of the EastMed gas pipeline as a Project of Common Interest.
According to the Green Deal, gas-based projects will no longer be eligible for funding through European funds, but a temporary derogation will be granted to Cyprus and Malta to allow them to maintain one funded gas project each, which can then form the basis for the transition to hydrogen. By extension, the EastMed gas pipeline continues to be considered as an eligible project for Cyprus, with the support of the EU. These projects will be funded by the EU to connect the two member states to the European grid and will operate under strict conditions.
The legislation, which was agreed with the Council in December 2021, sets out the criteria and methodology for selecting energy projects of common interest (EPI), such as high-voltage transmission lines, pipelines, energy storage facilities and smart grids. These projects will benefit from fast-track administrative procedures and will be eligible for EU funding.
Promote hydrogen, phase out gas
During the negotiations, MEPs supported the inclusion in the funding programme of projects related to the development of hydrogen infrastructure and carbon capture and storage. Eligible projects should also promote the integration of the European market and enhance the security of energy supply.
The projects selected should contribute to the decoupling of Member States from the use of solid fossil fuels such as coal, lignite, peat and oil shale. MEPs also secured funding for projects to retrofit existing gas infrastructure to transport or store hydrogen during the transition period. Projects belonging to this category will be eligible to receive European funding until 31 December 2027.
"Time for action for critical interests in Eastern Europe. Mavridis says
As Cypriot MEP Costas Mavridis said after the plenary session, the adoption of the European Regulation on Trans-European Energy Infrastructure is the positive outcome of an intense and difficult negotiation of particular interest to the Eastern Mediterranean. As Mr.Mavridis explains, with today's vote in favour of the Regulation by the European Parliament, the "Project of Common Interest/PCI" status for the East Med gas pipeline is maintained as an eligible project for Cyprus with the support of the EU. "Of course, the decision to implement the project remains a matter that will depend on the technical feasibility studies," he adds. He also points out that the criteria for the project included, on the one hand, the provision for the possibility of transporting hydrogen, i.e. green energy, after the end of the pipeline's use for gas, and on the other hand, a specific timetable consistent with the transition to the green economy in 2050.
"Following today's decision of the EU and the corresponding political support of the countries involved in particular, the pipeline will be judged on the basis of its viability", Mr Makridis stresses and adds that "recent geopolitical developments highlight the important role that the Eastern Mediterranean has to play for the energy security of the EU and, to this end, a necessary component in highlighting the role of the Eastern Mediterranean in the energy security of the EU. BR\]Contents of this article including associated images are belongs Cyprus Times
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