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An informal meeting of the EU Energy Council took place today, 12 July, in Valladolid, Spain. The Republic of Cyprus was represented by the Minister of Energy, Trade and Industry, Mr. George Papanastasiou. The topics of discussion were the open strategic autonomy to strengthen the value chain and ensure security of supply in the EU energy sector, as well as the challenges to achieve a digitised and integrated internal energy market in the EU.
In his intervention, Mr Papanastasiou argued that the EU's open strategic autonomy in the energy sector is a vital issue for the protection of the EU, especially from external dependencies that have already negatively affected the EU's livelihood. In this context, he pointed out the crucial role of interconnections between Member States, but also between Member States and third countries, in securing energy supply, increasing the penetration of renewables and strengthening the resilience of energy systems in the EU. In this context, he highlighted as an example the ongoing "EuroAsia Interconnector" project which aims to create a corridor through which the EU can safely supply and receive electricity.
The Minister also referred to the need for a secure, affordable and sustainable supply of critical raw materials and the mitigation of risks in supply chains. As he explained, the EU's energy autonomy can be enhanced, inter alia, by reducing administrative burdens, facilitating procedures in projects involving critical raw materials, strengthening relations with reliable partners to develop and diversify investments and promote stability, strengthening initiatives in the extraction of critical raw materials, as well as enhancing the production capacities of zero-emission technologies. Minister added that it is extremely important to strengthen support for civil society, to keep energy prices affordable for citizens and to provide targeted information on the multiple benefits of the green transition.
It is also noted that Mr. Papanastasiou participated on 11 July 2023, in a joint informal meeting of EU Environment and Energy Ministers on preparations for the United Nations Climate Change Summit (COP 28) to be held in November and December 2023 in Dubai.
(MX)
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