BAKU, Azerbaijan, June 25. The European Commission (EC) has given the green light to a recommendation from the European Court of Auditors and plans to pull out all the stops to bring transparency to the table when it comes to implementing Projects of Common Interest (PCI) starting in 2025, where the aim is to really nail down gas supply reliability in the EU, Trend reports.
According to the EC's official response to the European Court of Auditors' special report published on June 24, "following consultations with EU Member States, ENTSOG (European Network of Transmission System Operators for Gas), and suppliers, the EC plans to improve the transparency and clarity of PCI data."
"The selection process of Projects of Common Interest (PCI) and Projects of Mutual Interest (PMI) is a complex process involving the opinions of many stakeholders, ultimately aimed at selecting the most relevant priorities for EU energy infrastructure.
The selection process occurs every two years. We believe that PCIs have and will continue to make a significant contribution to the EU energy market, including ensuring gas supply security," the EC emphasized.
The EC clarified that increased transparency in selecting PCI/PMI could be codified in the TEN-E Regulation (The Trans-European Networks for Energy).
The TEN-E Regulation provides a number of tools for the rapid implementation of PCI projects, including accelerated approvals, a regulatory regime, and the right to apply for EU funding.
Additionally, the EC intends to provide more comprehensive PCI information on its website.
To note, twenty projects holding the PCI designation are presently receiving over 1.5 billion euros in financing from the European Commission.
Traditionally, these projects concern gas infrastructure (gas pipelines, gas storage facilities, and liquefied gas terminals).
The PCI list used to include all segments of the Southern Gas Corridor.
