Krk LNG and Sincro Grid awarded EU grants
Croatian based floating LNG terminal in Krk was approved over €102 million grant by the Connecting Europe Facility (CEF): €747,000 for a feasibility stuy and €101.5 million for the construction (28% of the overall, €363 million, estimated project value). The project is aimed at improving the country's, but also the region's energy security by enabling a diversified gas supply of an area mostly dominated by Russian gas. It is a National Strategic Project for Croatia and a Proj
EU to invest €444 million in key energy projects
EU agreed on the EC's proposal to fund €444 million worth of energy infrastructure projects considered key for the development of the European energy sector. Connecting Europe Facility (CEF), EU's funding support organisation for infrastructure, is to provide the necessary money. Out of the 18 projects, 10 regard gas (€228mn), 7 electricity (€176mn) and 1 smart grids (€40mn). Three of the largest grants amount to almost €300mn and regard compressed air energy storage construc
EU sets 40 % target reduction in 2030 compared to 1990
After recent ratification and entry into force, EU is putting in place legislation to achieve thegoal of emission reduction by at least 40 % in 2030 compared to 1990. As reported by the European Commission, in 2015, the EU was responsible for 10% of world greenhouse gas emissions. Emissions in the EU were reduced by 22% between 1990 and 2015 while the economy grew by 50% over the same period. Modernisation of the energy sector is in line with a shift towards low-carbon techno
Europe moving towards low-carbon
European Commission released the Second Report on the State of the Energy Union concluding that Europe is continuing its energy transition towards a low-carbon energy system. Carbon emissions, energy efficiency and renewable energy are all on track to successfully reach 2020 targets. The Figure presented reveals shares of renewable energy in the EU when compared to the Renewable Energy Directive and the National Renewable Energy Action Plan (source: EC). However, a surge in r
