investmentGATEWAY

The European Council has taken important decisions with regard the European Union policy on climate and energy for the period 2020-2030, and gave directions as to the completion of the internal energy market and the strengthening of energy security of the Union.

We express our satisfaction for the final text of the Conclusions since it takes into consideration the particular characteristics of Cyprus, as well as many of the concerns that we have expressed during the many months of negotiations, such as the adverse economic situation that our country is in, the lack of links with the internal energy market of the EU, the importance of the exploitation of domestic sources of energy, as well as the need to develop a new hub for natural gas in southern Europe.

With regard to climate and energy, the European Council adopted three goals until 2030. First, the binding goal to reduce emissions of Greenhouse gasses at EU level by 40% in comparison to the emissions in 1990; the binding goal for the use of 27% renewable energy sources at an EU level; and the non-binding goal for a 27% energy performance at an EU level. A particularly important element for us is that in the goals set, the degree of links to the internal energy market will also be taken into consideration, an element that has also been intensely promoted by Cyprus.

With regard to the internal market of energy, we note the fact that in the paragraph about the implementation of the projects of mutual interest that must be advanced as a priority within the framework of the interlinked internal market of energy, there is a specific reference to Cyprus, Malta and Greece. Besides, in the Conclusions for the security of the supply of energy, a reference has been included specifically with regard to the development of a new hub for natural gas in southern Europe.

Download and read the 2030 Climate & Energy Policy Framework