EUobserver: Massive EU gas investment a mistake

Friday's (27 June) gathering of EU ministers is the second time this month to discuss, among other things, Europe’s supply of natural gas. The crisis in Ukraine has been a wakeup call, exposing Brussels' weak position vis-a-vis Russia which delivers 25 per cent of gas consumed in the EU.

Gas totals one quarter of all energy used in Europe, but with price levels on the rise and domestic production falling, it is becoming increasingly expensive to continue current levels of consumption, furthering Europe’s dependence on imported gas.

In response, Europe is investing billions of euros in gas-related infrastructure. Of the 248 so-called projects of common interest (PCIs) identified by the European Commission, 110 are related to the storage or transportation of gas.

Harbours across Europe are being transformed into hubs for overseas liquefied natural gas, and new pipelines are planned to bring gas supplies to the EU from authoritarian regimes such as Azerbaijan and Algeria.
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