EU seeks to speed up strategic energy pipelines

The EU has agreed on a streamlined approval process to speed up strategic energy pipelines and grids, Reuters reported with the reference to EU Energy Commissioner Günther Oettinger.

The draft law requires the final approval of the European Parliament and member states, which are expected to decide on it early next year so it could come into force around March or April.

According to Oettinger, the political agreement is already a major step forward, which will give a big push to much-needed infrastructure.

According to the Commission's statement, it Commission had proposed permit-granting for crucial infrastructure should not exceed three years, but a deal reached on this week had decided on a maximum timeframe of three years, six months.

The fast-track permitting rules will only apply to the most strategic infrastructure, labelled "projects of common interest" because they benefit more than one member state. They could include the proposed Southern Gas Corridor

The Southern Gas Corridor is a major energy project for the EU. It is intended to diversify routes and sources of supply. It is aimed at ensuring EU energy security. Gas which will be produced during the second stage of Azerbaijani Shah Deniz field development is considered as the main source for the Souther Gas Corridor projects.

Reuters reported 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. That compares with the estimated 200 billion euros the Commission has said is needed to build gas pipelines and new power grids.


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