EU unveils EUR 13.1 billion investment in transport, including LNG

The European Commission unveiled on Monday a record €13.1 billion investment plan in 276 transport projects selected under the Connecting Europe Facility (CEF).

This investment will unlock additional public and private co-financing for a combined amount of €28.8 billion, the Commsion said in a statement.

Selected projects are primarily located in the core trans-European transport network. Among the beneficiaries are flagship initiatives such as Rail Baltica, the Brenner Base Tunnel, the Seine-Escaut waterway, the Caland Bridge and the Fehmarn Belt Fixed Link. Smaller-scale initiatives include cross-border projects between Groningen and Bremen, the Iron Rhine rail line, LNG (liquefied natural gas) deployment plans or projects enhancing the navigability of the Danube River.

The Commission said it has received 700 applications totaling €36 billion of requested funding, three times more than the available envelope.

The proposed funding decision must now be formally adopted by the Connecting Europe Facility Committee, which will meet on 10 July.

The individual grant agreements will then be prepared by the Innovation and Networks Executive Agency (INEA) and signed with the project beneficiaries in the second half of 2015.

LNG World News Staff; Image: LNG Masterplan