BAKU, Azerbaijan, June 3. Once the ongoing projects of common interest (PCI) are implemented all EU member states will have access to at least three gas sources or the global liquefied natural gas (LNG) market, Trend reports referring to the Council of the European Union.
Reportedly, since the TEN-E Regulation was established in 2013 gas PCIs have helped to establish a more resilient European gas infrastructure based on more diversified supplies. Gas PCIs have contributed to reduce bottlenecks in the European gas infrastructure, diversify supply sources as well as counterparts and routes.
“The TEN-E Regulation has established a new approach to EU-wide infrastructure planning based on regional cooperation with Member States and relevant stakeholders to identify projects of common interest that contribute to the development of energy infrastructure priority corridors and thematic areas. It also requires Member States to streamline permit granting procedures for PCIs and provides access to financing from the Connecting Europe Facility (CEF) to enable their timely implementation,” reads the report released by the Council of the European Union.