An EU gas-tric bypass? €11 billion can be saved by choosing renewables
Yet the European Commission seems to be in the throes of a love affair with gas - despite the fact that EU gas demand is plummeting.
The Commission’s recent energy security regulation barely mentioned renewables or energy efficiency. Instead, it was all about ensuring the EU’s natural gas supply and building new pipelines.
A new report shows this is not only illogical, it is also expensive.
€11.4 billion could be saved if the EU switches its plans from new-build gas infrastructure to renewable energy, the report from consultants Artelys and Climact, backed by WWF and others, shows.
Existing pan-European infrastructure can manage wide-ranging demand levels and potential supply disruptions, the report finds.
Adding much more gas infrastructure is not only unnecessary for security of supply, it also creates a risk of expensive stranded assets.
EU gas demand fell by 23% in the past five years - just 32% of existing liquid natural gas (LNG) terminals and 58% of pipeline capacity are in use today.
And this drop in demand is set to continue if the EU is serious about meeting its energy efficiency and climate targets for 2030.
Read the report