IP/10/231
Brussels, 4 March 2010
Economic Recovery: Second batch of 4-billion-euro package goes to 43 pipeline and electricity projects
The European Commission selected today 43 major energy projects, which will significantly contribute to the economic recovery in the EU, while increasing our security of energy supply by creating cross-border infrastructure. With today's decision, the Commission grants € 2.3 billion to 31 gas and 12 electricity projects. This is the second financial decision under the Economic Recovery Package which amounts to almost 4 billion Euros. It is the largest amount the EU has ever spent on energy infrastructure.
José Manuel Barroso, President of the European Commission, said: "Under the EU's Recovery Plan we finance 'smart investment' – a short-term stimulus targeted on long-term goals. Investing in key infrastructure will not only give a push to the economy and employment, but it will also help ensuring that citizens homes will have heating and electricity, even in the event of supply disruptions. We have learnt the lessons of the recent gas crisis which is one of the reasons why we decided to allocate major financial assistance to new energy infrastructure projects".
Günther Oettinger, European Commissioner responsible for Energy said: "Never before has the Commission agreed such an important amount for energy projects. We have selected key projects which will help creating a more integrated energy network in Europe ensuring flexible energy flows across Member States' borders. Europe's energy and climate objectives require large and risky infrastructure investments with long pay-back times. The problem is that, in today's economic climate, such projects risk to be delayed. This is a moment where Europe can play an important role in keeping these projects on track".
Today's Commission decision grants € 910 million for 12 electricity interconnection projects and € 1,390 million for 31 gas pipeline projects. The projects selected today will help to deliver major investment projects which were at risk of major delay because of the economic slowdown. By co-financing parts of these projects up to 50% the EU contribution will help to lever up to 22 billion euros of private sector investment. The 2,3 billion Euro will be granted to project developers over the next 18 months.
The electricity and gas infrastructure projects selected reflect the energy priorities of the EU. These include the need to better interconnect all EU Member States and to reduce the isolation of remoter parts, such as the three Baltic States, Ireland and Malta. They also confirm the need for greater security of gas supplies by supporting projects for reverse flow in 9 Member States and the Nabucco and Galsi projects to diversify gas imports.
These investments will help stimulate employment and ensure the survival of many small businesses in the construction and services industries. They will make energy supplies more reliable for millions of people especially in the event of a supply crisis.
Background
In March 2009 the EU set aside €3.98 billion to assist European economic recovery.
With the Carbon Capture and Offshore Wind Projects which the Commission agreed to support on 9 December 2009, the budget for energy projects in the European energy Recovery Programme is 97 % committed.
The Commission will report to the European Council in March 2010.
The complete list of projects is annexed to this press release.
For more information:
IP/09/1896: Commission approves over €1,5bn for 15 CCS and off-shore wind projects to support European economic recovery
Annex
List of grants to be financed by the 2009 and 2010 budget for the sector of Gas and Electricity infrastructure projects.
1. Gas interconnectors
Project as mentioned in the EEPR Regulation | Applicant Name | Country(ies) | Maximum Union contribution in € | ||||||
Nabucco | Nabucco Gas Pipeline International GmbH | AT, HU, BG, DE, RO | 200,000,000 | ||||||
ITGI – Poseidon | IGI Poseidon S.A | GR, IT | 100,000,000 | ||||||
Skanled/Baltic pipe |
| ||||||||
Liquified Natural Gas Terminal at Polish Coast at port of Świnoujście | Polskie LNG sp. z.o.o & Zarzad Morskich Portow Szczecin i Swinoujsce S.A | PL | 80,000,000 | ||||||
Slovakia-Hungary Interconnector (Vel'ký Krtiš – Vecsés) | FGSZ Natural gas Transmission Closed company Limited Eustream a.s | HU SK | 30,000,000 |
Gas transmission system in Slovenia between the Austrian border to Ljubljana (excluding the section Rogatec-Kidričevo) | Geoplin plinovodi d.o.o | SI | 40,000,000 |
Interconnection Bulgaria-Greece (Stara Zagora –Dimitrovgrad-Komotini) | 1) Public Gas Corporation of Greece (DEPA) 2) EDISON S.p.A 3) Bulgarian Energy Holding EAD | GR, IT, BG | 45,000,000 |
Romania-Hungary gas interconnector | FGSZ Natural gas Transmission Closed company Limited SNTGN TRANSGAZ SA | RO HU | 16,606,788 |
Expansion of Gas Storage Capacity in the Czech hub | RWE Gas Storage | CZ | 35,000,000 |
Hungary-Croatia interconnection | FGSZ Natural gas Transmission Closed company Limited | HU | 20,000,000 |
Bulgaria-Romania interconnection | 1) S.N.T.G.N TRANSGAZ SA 2) BULGARTRANSGAZ EAD | RO, BG | 8,929,000 |
Reinforcement of FR gas network on the Africa-Spain-France axis | GRTgas SA TIGF SA | FR | 175,765,000 |
GALSI (Gazoduc Algérie-Italie) | Galsi Spa | IT | 120,000,000 |
Gas interconnection Western Axis Larrau Branch | Enagas SA | ES | 45,000,000 |
Germany-Belgium-United Kingdom pipeline | FLUXYS SA | BE | 35,000,000 |
France-Belgium interconnection | FLUXYS SA & GRTgas SA | BE & FR | 200,000,000 |
TOTAL GAS | 1,301,300,788 |
REVERSE FLOW GAS projects
Infrastructure and equipment to permit reverse flow in the event of short term supply disruption |
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Total Reverse Flow | 79,518,619 | ||||||||||||||||||||||||||||||||||||||||||||
2. Electricity interconnectors
Project as mentioned In the EEPR Regulation | Applicant Name | Country(ies) | Maximum Union contribution in € | ||||||
Estlink-2 | 1) Fingrid Oyj 2) Elering OÜ | FIN, ET | 100,000,000 | ||||||
Interconnection Sweden-Baltic States, and strengthening of the grid in Baltic States |
| ||||||||
Halle/Saale – Schweinfurt | 1) Vattenfall Europe Transmission GmbH 2) Transpower stromübertragungs GmbH | DE | 100,000,000 | ||||||
Wien-Győr | 1) VERBUND-Austria Power Grid 2) MAVIR ZRt | AT, HU | 12,989,800 | ||||||
Portugal-Spain interconnection reinforcement |
| ||||||||
Interconnection France-Spain (Baixas - Sta Llogaia) | 1) Red Electrica de España 2) Réseau de Transport d'Electricité | ES, FR | 225,000,000 | ||||||
New submarine cable between Sicily – Continental Italy (Sorgente – Rizziconi) | Terna S.p.A | IT | 110,000,000 | ||||||
Ireland/Wales intercom-nector (Meath-Deeside) | Eirgrid | IRL | 110,000,000 | ||||||
Electricity interconnection Malta-Italy | 1) Enemalta Corporation 2) Terna Spa - Rete Elettrica Nazionale | MT, IT | 20,000,000 | ||||||
TOTAL Electricity | 902,989,800 | ||||||||
3. Small islands projects
Project as mentioned In the EEPR Regulation | Applicant Name | Country(ies) | Maximum Union contribution in € | ||||||
Small isolated island initiatives |
| ||||||||
TOTAL | 15,000,000 | ||||||||
