European Union News - Energy

The European Commission welcomed the signature of a tri-lateral intergovernmental agreement (IGA) as an essential step in the preparation of the Trans-Adriatic Pipeline project (TAP). TAP is an important gas pipeline between Italy, Albania and Greece with a starting capacity of minimum 10 billion cubic metres per annum (bcma).

Eurostat figures show that the energy consumption in the EU fell by 6% between 2008 and 2011. The largest falls were recorded in Lithuania, Ireland, Greece, Romania, Spain and the United Kingdom. The energy dependence rate was 54% in the EU in 2011, nearly stable since 2008.

The European Commission announced that with almost €2 million from the TEN-T Programme, it will finance a study looking at the potential beneficial effects of using alternative fuels for port operations. Also, the EU will support with over €1.2 million from the TEN-T Programme a study aimed at identifying and addressing the potential barriers to the construction and operation of Liquefied Natural Gas (LNG) fuelled vessels.

The European Commission presented a new package of measures to ensure the build-up of alternative fuel stations across Europe with common standards for their design and use. In particular, the Clean Power for Transport Package consists of a Communication on a European alternative fuels strategy, a Directive focusing on infrastructure and standards and an accompanying document describing an action plan for the development of Liquefied Natural Gas (LNG) in shipping.

The European Investment Bank (EIB) and the International Renewable Energy Agency (IRENA) launched a joint study with the aim to assess the Southern Mediterranean region’s capability to attract foreign investments for developing local renewable energy industries.

Eurostat announced that in November 2012 compared with October 2012, seasonally adjusted industrial production fell by 0.3% in both the euro area and the EU. The largest decreases were registered in Slovenia, Portugal and Spain, and the highest increases in Estonia, Latvia and the Netherlands.

The European Court of Auditors assessed whether Cohesion Policy investments in energy efficiency were cost-effective. ECA drew the conclusion that the projects selected by Member State authorities for financing did not have rational objectives in terms of cost-effectiveness, i.e. cost per unit of energy saved.