EUR 11.4 billion could be saved if the EU switches its plans from new-build gas infrastructure to renewable energy, the report from consultants Artelys and Climact, backed by WWF and others, shows.
The report, titled A Perspective on Infrastructure and Energy Security In the Transition , finds that the existing pan-European infrastructure can manage wide-ranging demand levels and potential supply disruptions. Adding much more gas infrastructure is not only unnecessary for security of supply, it also creates a risk of expensive stranded assets.
EU gas demand fell by 23% in the past five years – with just 32% of existing liquid natural gas (LNG) terminals and 58% of pipeline capacity are in use today.
And this drop in demand is set to continue if the EU is serious about meeting its energy efficiency and climate targets for 2030, according to WWF.
In its ‘winter package’ of Energy Union proposals issued last month, the European Commission reaffirmed its support of using gas imports to improve its energy security.
Prior to the announcement of the winter package, WWF called on the Commission to draw up a Roadmap showing clear steps and a timetable for moving away from fossil fuels – including gas – and achieving renewable energy world leadership. WWF also urged EC to shore up investor confidence in renewables by strengthening EU’s 2030 target and putting in place robust measures to achieve it.