GIE response to EIB Lending Policy 14 Nov 2019

November 19, 2019

On the 14 of November 2019 the board of the European Investment Bank (EIB) agreed its new climate strategy and Energy Lending Policy.

The agreement was reached after consultation with industry, of which GIE was an active part.

GIE members are committed to contributing to the EU 2050 climate targets and welcome the new EIB lending policy that bases eligibility on a technology-neutral assessment of developments in sustainable and lower-carbon energy.

The new eligibility criteria give an impulse to the increased production and delivery of sustainable gases, including biomethane, synthetic methane and hydrogen. They also offer incentive for the development of natural gas projects with combined heat and power (CHP) and carbon capture and storage (CCS). The gas infrastructure plays a key role in all these future energy systems by facilitating sector coupling with the electricity grid, increasing efficiency and the delivery and storage of renewable energy and maintaining security of energy supply throughout Europe.

GIE urges the EIB and the EU Commission to continue to be pragmatic in its support of gas grid investment to facilitate not only increased quantities of green gases and sustainable infrastructure but also to develop lower emission power generation in regions of energy poverty, extreme air pollution or hard-to-decarbonise economies. It is also crucial for the EIB and EU to continue to support to completion of the EU-wide gas infrastructure in already-defined regions with PCI markers.

Note to editors

Gas Infrastructure Europe (GIE) is an association representing the interests of gas infrastructure operators active in gas transmission, storage and LNG regasification. GIE is a trusted partner of European institutions, regulatory bodies and industry stakeholders. It is based in Brussels, the heart of European policymaking.

GIE currently represents 70 member companies from 26 countries. Its internal structure has three columns corresponding to the three types of infrastructure activities represented: GTE (Gas Transmission Europe), GSE (Gas Storage Europe) and GLE (Gas LNG Europe), all of which fall under the umbrella of GIE. This structure allows member companies to speak with one voice on infrastructure topics as well as to build positions on column-specific issues. To find out more about GIE’s structure and activities, please visit the website at www.gie.eu .