Title: Europe's Keystone XL: Planned gas pipeline is reckless
Headings: Europe’s Keystone XL: Planned gas pipeline is reckless
Europe’s Keystone XL: Planned gas pipeline is reckless
The Southern Gas Corridor risks locking in higher fossil fuel dependence and wasting colossal amounts of public money
By Anna Roggenbuck

Content: According to the EU’s Energy Roadmap 2050, the longer term goal of a decarbonised Europe would instead be achieved through a shift to renewable energy sources, which would also help reduce the continent’s dependence on energy imports. Not only does European gas demand keeps falling, the EU already has surplus of gas import infrastructure. The Court of Auditors specifically noted that EU policy commitments, especially those related to climate change, are lacking a comprehensive assessment of the infrastructure needed. Therefore, a massive project such as the Southern Gas Corridor is only likely to turn into a liability. Report: How Russia and neighbours could go 100% renewable by 2030
Proponents of the project argue for its necessity as a substitute for Russian gas imports. But it is no other than Russian energy giant Lukoil, as part of a larger consortium, that is controlling the tap of the Shah Deniz gas field, the source of the Southern Gas Corridor, and mostly thanks to a recent €500 million loan from another public lender, the European Bank for Reconstruction and Development. A bank official is also reported to have recently said the bank is considering finance for sections of the Southern Gas Corridor. The answer for Europe’s energy security woes is not with fossil fuel imports, especially not from authoritarian regimes such as Azerbaijan. Rather, to truly boost energy security, EU public investments should go to home grown wind and solar power, high energy efficiency potential and an actual decrease in energy consumption along with better integration of EU internal energy market and infrastructure.