Baku, Azerbaijan, Feb.21
By Leman Zeynalova – Trend:
The European Investment Bank (EIB) intends to present a new Energy Lending Policy to the EIB Board of Directors by mid-2019, Trend reports with reference to the Bank’s message.
EIB will hold public consultation meeting on the revision of the Energy Lending Policy on February 25.
“The Bank is aware that some stakeholders question whether EIB should continue to support a ‘transition’ fuel such as natural gas. Nevertheless, the EIB remains committed to supporting the Energy Union in this area, and acknowledges the economic case for investment in gas infrastructure during the energy transformation,” said the Bank.
At the same time, the EIB said it recognizes the changing case for investment in gas.
“In the light of the EU 2030 climate and energy targets, there may be a risk that some new investments to expand gas network capacity may become stranded assets before the end of their typical economic and technical lifetime.”
Consequently, the Bank is currently considering how to ensure that any gas infrastructure that it finances remains compatible with long-term decarbonization targets, said the Bank.
The new integrated national energy and climate plans will provide a useful reference framework.
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