Agreement reached on notification of energy infrastructure investments will enhance energy security

23 October 2013, Last updated at, 11:41 EEST
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author: PantherMedia/Scanpix

October 23, Brussels. The Committee of Permanent Representatives (COREPER I) confirmed today the agreement reached by the Lithuanian EU Council Presidency and the European Parliament on notification of energy infrastructure investments’ Regulation, which aims to produce an overview of the process of investment in energy infrastructure in the Union, by generating more and better data through biennial reporting by Member States. This will allow an improved, cross-sectoral analysis of needs, shortcomings, potential risks, and will enable better coordination between Member States concerned and at Union level.

“Due to significantly changing energy landscape within and outside the EU in recent years  investment in energy infrastructure becomes a crucial issue for securing the Union’s energy supply, for the functioning of the EU internal market and for the transition towards a low-carbon energy system. The new energy context requires significant investment in all kinds of infrastructure in all energy sectors as well as the development of new types of infrastructure and new technologies to be taken up by the market,” said Minister of Energy of Lithuania Jaroslav Neverovič.

The Minister also thanked the European Parliament for successful completion of negotiations on this legislative dossier.

According to Minister Neverovič, the data collection and analysis on energy infrastructure investments will contribute to enhancing energy security by identifying possible infrastructure and investment gaps in view of an energy supply and demand balance.

In the first and last informal trilogue between the Lithuanian EU Council Presidency, the European Parliament and the Commission on the Proposal for a Regulation of the European Parliament and of the Council concerning the notification to the Commission of investment projects in energy infrastructure within the European Union, which took place on 16 October, the co-legislators reached a political agreement on the legislative act.
 
This Regulation establishes a common framework for the notification by Member States to the Commission of data and information on investment projects in energy infrastructure in the sectors of oil, natural gas, electricity - including electricity from renewable sources, electricity from coal and lignite, and cogeneration of electricity and useful heat - as well as on investment projects related to bio-fuel production and the capture, transport and storage of carbon dioxide produced by these sectors. Member States should also notify investment projects in electricity interconnections and gas interconnections with third countries.
 
The Chair of COREPER I ambassador Arūnas Vinčiūnas signed the letter to be sent to ITRE Committee of the European Parliament about confirmation of the agreement by the Committee of Permanent Representatives of the Council.

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