Eight European countries have urged the European Union to include natural gas in future funding, as the bloc’s executive prepares to unveil its plan for a green economic recovery from the coronavirus pandemic. The European Commission will present on Wednesday its trillion-euro proposal for the bloc’s next budget, alongside a coronavirus Recovery Fund to mobilise investments in line with its climate goals.
Bulgaria, the Czech Republic, Greece, Hungary, Lithuania, Poland, Romania and Slovakia have asked Brussels not to exclude natural gas projects from future funding. “It is of crucial importance to maintain EU support and financial assistance for the development of gas infrastructure,” they said in a discussion paper seen by Reuters.
A draft of the Commission’s green recovery plan, seen by Reuters, only earmarks funding for natural gas projects that use carbon capture or repurpose gas infrastructure to carry low-carbon fuels such as hydrogen. The European Investment Bank has already pledged to stop funding most gas projects after 2021. Natural gas produces about half as much CO2 as coal when burned in power plants. Alongside wind and solar, gas has helped Europe cut emissions by reducing coal use. But the fuel is incompatible with “net zero” emissions unless gas plants use expensive emissions-capturing technology.
Source: Reuters
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