Thursday, June 3, 2021

Large gas projects may lose EU support

 11 EU member states, including Germany, want the European Union to end the financing of cross-border gas projects due to "climate change."

The EU has been financing under the "Trans-European Networks for Energy" (TEN-E) policy the cross-border energy projects like connections between gas networks of the member states, increasing the EU energy security.

However, some countries want to stop financing such projects because of climate change they may cause. The document on the matter was signed by: Austria, Germany, Belgium, Denmark, Estonia, Spain, Ireland, Luxembourg, Latvia, the Netherlands, and Sweden.

It is needless to say that at least five countries on this list (Germany, Denmark, Finland, Sweden, and Austria) directly benefit from the infamous Russian project Nord Stream 2 (NS2) that president Biden suddenly decided to no longer oppose. 

Germany is the most influential country in the EU, and it is also the biggest beneficiary of the NS2. Therefore their "in your face" hypocrisy is astonishing. We can see here that the president's decision regarding NS2 has already brought adverse outcomes for some EU members. Let's hope that Biden did not make it out of spite toward president Trump, who was strongly opposed to this project.