Prague, Brussels, Rome, London – Today the board of directors of the European Investment Bank (EIB) green-lighted a EUR 93 million loan to the Trans Anatolian gas pipeline (TANAP), the Turkish section of the Southern Gas Corridor, a month after handing out the largest ever fossil fuels loan to the western section of the same project.
What happens when a town strikes gas? 30 years after Shell and ExxonMobil opened up Europe's biggest gas field for drilling, the residents of Groningen are finding out – regular earthquakes are destroying people's homes, leaving them too dangerous to live in and too expensive to fix. Meanwhile, while north-west Europe continues to burn fossil gas, the low-lying region sits perilously close to the sea level.
Members of the EU Parliament’s energy committee have supported reform of energy markets to restrict subsidies for dirty fossil fuel power plants, but failed to reject new gas infrastructure, in two important votes on climate and energy today.
CEE Bankwatch Network, Counter Balance, Friends of the Earth Europe, 350.org
The European Investment Bank (EIB) voted today to hand out one of Europe’s largest ever loans to one of the EU’s largest fossil fuel projects, the contentious Trans Adriatic Pipeline (TAP).
The European Commission today announced new subsidies for fossil fuels, with nearly €200 million for gas projects, as part of a larger package of energy investments for 2018.
***Update 18 April: The Milan court hearing scheduled today on the Nigerian Ikebiri community's case against oil giant ENI/NAOC has been postponed as, both parties sought the court's permission to suspend the case to allow them to explore further the possibility of an out-of-court settlement that could end the conflict. We expect that the company will now offer adequate compensation and clean up according to the community's legitimate grievance. The court has agreed to set the next hearing for October 23, 2018.***
Today, at a board meeting in Luxembourg the European Investment Bank (EIB) has decided, for now, to postpone loaning €1.5 billion to the controversial Trans-Adriatic Pipeline (TAP).
Europe needs to urgently quit gas if it is to reduce greenhouse gas emissions to internationally agreed levels, new science shows.
At a high level conference today on financing Europe's shift to clean energy, EU energy chiefs once again showed blindness to the danger to the climate of Europe's gas addiction.
After over six years of campaigning against fracking by Friends of the Earth Scotland and local communities, the Scottish government announced on 3 October to effectively ban unconventional oil and gas extraction - in short: fracking – in the whole country.
On 24 October, the Scottish Parliament voted in support of the government’s proposal.