Energy: EU invests €647 million in key energy infrastructure
Today Member States agreed to allocate €647 million to support key priority infrastructure projects The bulk of the support goes to gas projects in the Baltic region as well as in Central Eastern and South Eastern Europe. Funding will come from an EU programme called the Connecting Europe Facility (CEF).
The supported projects will increase Europe’s energy security and help end the isolation of Member States from EU-wide energy networks. They will also contribute to the completion of a European energy market and the integration of renewables to the electricity grid.
Vice-President of the European Commission, responsible for energy, Günther H. Oettinger said: “I welcome today’s decision, which will help us to quickly build the infrastructure we need to ensure Europe’s energy security. The geopolitical crisis has highlighted the need to better connect energy networks. This is also crucial for an integrated energy market where consumers get the best value for their money.”
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