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European energy grants total 2.3 billion euros
(from Oil & Gas Journal)
The European Commission has selected 31 gas and 12 electricity projects to receive grants totaling a record 2.3 billion for energy infrastructure.
The investments are part of almost 4 billion set aside in March 2009 for European economic recovery. They reflect desires by the European Union to interconnect member states and reduce isolation of outlying members such as the three Baltic states, Ireland, and Malta.
The spending will help provide for emergency pipeline flow reversal in nine EU countries and support the Nabucco gas line between Turkey and Germany and the Galsi line between Algeria and Italy. The EU investments, expected to encourage industry commitments of as much as 22 billion, will be allocated over the next 18 months.
The 1,39 million identified for 31 gas line projects includes 200 million for Nabucco, 200 million to increase capacity of the France-Belgium interconnection, over 175 million to develop gas interconnections between France and Spain, 120 million for the Galsi pipeline, and 35 million for the Germany-Belgium-UK pipeline.
An LNG terminal at Polands port of Swinoujscie will receive 80 million, while infrastructure and equipment to reverse pipeline flow of gas in the event of short-term supply disruption will be granted 79.5
million.
© Oil & Gas Journal -
March 9, 2010
Doris Leblond, OGJ Correspondent
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