EU Energy Commissioner Günther Oettinger reported that the EU has agreed on a streamlined approval process to speed up strategic energy pipelines and grids.
According to the information, the draft law needs the final approval of the European Parliament and member states, which are expected to decide on it early next year and come into force around March or April.
“The political agreement is already a major step forward, which will give a big push to much-needed infrastructure.” said Oettinger.
Note that the Southern Gas Corridor is a major energy project for the EU. It is intended to expand routes and sources of supply and ensure EU energy security. The main source for the Souther Gas Corridor projects is the gas, which will be produced during the second stage of Azerbaijani Shah Deniz field development.
The source notes that the EU is expected to decide on the projects of common interest in 2013. They could be entitled to funding from 9.1 billion euros towards strategic energy infrastructure proposed by the Commission as part of the bloc’s seven-year budget, which the EU has so far failed to agree.
