Wednesday, October 26, 2016

Reduce Europe's natural gas dependency, urges European Parliament

The European Parliament, assembled for a plenary session here, adopted a resolution on Tuesday calling for the European Commission to reduce the Europe's dependency on liquefied natural gas (LNG) in the long term by using resources more efficiently and gradually phasing out fuel subsidies.

The non-legislative resolution calls for LNG supplies that are more secure and affordably priced, while cutting overall carbon emissions, via a multifaceted plan that would diversify energy sources and develop energy trade partnerships.

"There are three great issues we dealt with in this report", explained rapporteur Andras Gyurk during a presentation of the draft resolution on Monday evening.

"First, we need supply diversification, to show solidarity with countries which are almost one hundred percent dependent on a single supplier. Next, completing the missing gas infrastructure is essential for maximising the use of the existing LNG terminals and gas storage facilities, and last but not least, without the much needed-harmonization of rules, procedures and tariff structures, the European infrastructure will only be an empty vessel, unable to serve its purpose", he added.

Making the most efficient use of existing infrastructure, including EU energy storage capacities, would significantly contribute to increasing energy supply security and reducing dependency, Members of European Parliament (MEPs) say in the resolution.

Doubling the capacity of the Nord Stream pipeline, however, is seen as a potential source of counterproductive effects on energy security, with the parliamentarians stressing the need for adequate assessments before the building of the Nord Stream two pipeline in the North-South Gas Corridor.

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