Minister of Energy, Trade and Industry George Papanastasiou participated in the work of the EU Energy Council held today in Brussels.
After lengthy consultations, Member States reached a Council General Approach agreement on the Renewable Gas, Gas and Hydrogen package, which aims to facilitate the penetration of renewable and low-carbon gases into the energy system, but also to give new gases the opportunity to play an important role in achieving the EU's 2030 climate targets and climate neutrality by 2050.
In his intervention, the Energy Minister said that Cyprus agrees with the renewable gas, gas and hydrogen package as it is very important legislation that is expected to help Member States meet the climate neutrality targets set at EU level. Papanastasiou highlighted in particular the fact that this package provides the possibility of promoting hydrogen interconnections between Member States and third countries through the creation of regional partnerships. He also made a special reference to the potential of the Eastern Mediterranean to contribute to the diversification of energy corridors and sources and thus to the EU's energy security. Furthermore, he noted that the package takes into account the specificities of Cyprus as an energy isolated and emerging market.
The '27' reached a political agreement on a one-year extension of the Council Regulation on coordinated measures to reduce gas demand. In this context, the Minister thanked the Swedish Presidency for recognising the specificities of the Member States when implementing measures to reduce gas demand.
The new Commission proposal on the review of the electricity market, published on 14 March, was also discussed. Mr Papanastasiou welcomed the proposal, while stressing the need to take into account the specificities of small isolated systems. An important objective, he stressed, should be to reduce and stabilise electricity prices for the benefit of consumers.
The Council also discussed other energy issues, such as the EU's preparation for the next winter 2023-2024, Denmark's proposal on the impact of the Nature Restoration Regulation on energy production and development, and Greece's proposal on the need for an EU electricity grid capable of sustaining and accelerating the green transition. The Minister particularly welcomed Greece's proposal, making particular reference to interconnections with third countries as a tool for the transfer of energy from renewable energy sources, such as those from the Eastern Mediterranean to the Balkans. German Galushchenko, with whom they discussed the latest developments in the energy sector in Ukraine.
(OP)
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