EU countries agree to prolong gas project funding, with caveats

BRUSSELS, June 11 (Reuters) – European Union energy ministers on Friday agreed to prolong EU support for some cross-border natural gas projects, despite a push from 11 countries and the European Commission who said such funding should end to comply with climate change goals.

The EU’s “TEN-E” rules define which cross-border energy projects can be labelled Projects of Common Interest (PCI), giving them access to certain EU funds and fast-tracked permits.

The EU is upgrading the rules to comply with its climate change targets, and in December the European Commission proposed a new version excluding dedicated oil and gas infrastructure. read more

Energy ministers from EU countries on Friday agreed their position on the rules, which they must negotiate with European Parliament.

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