Chamber Warns Against Gas Pipeline Criticism, Which It Says Could Jeopardise EU Funding And Malta’s Energy Transition
The Malta Chamber of Commerce has appealed for caution amid calls for the EU not to grant Malta funds for its planned gas pipeline.
“It is imperative that we find ways of addressing concerns related to the existing agreements independently of proposed projects that could provide us with more options for energy generation in the future,” the chamber said in a statement.
“For the benefit of our country and the business community, no one should try to jeopardize EU funding for Malta’s energy transition.
Earlier this week, the Caruana Galizia family together with two MEPs wrote to Slovenian Prime Minister Janez Janša, whose country is currently chairing the EU’s rotating presidency, calling for the removal of a derogation that allows the EU to fund the pipeline.
The EU, they said, should not be giving any funds to the “owners of a corrupt project, including one charged for murder”.
Matthew Caruana Galizia has claimed that the Electrogas project was behind the decision for his mother to be assassinated. The journalists had received a massive data leak from the company in the months preceding that decision being taken.
In its statement, the chamber said that Malta and the EU’s green transition required countries to be “very careful with managing their energy supply options to minimise the risk of a spike in energy prices”.
“If this is not maintained, it will hurt the competitiveness of European businesses and provoke social unrest. The decarbonisation of transport, which is a priority for Malta, requires an accelerated process of electrification of vehicles that will increase energy demands by 30-50%,” the chamber said.
It added that while solar, wave and wind energy are all renewable sources that Malta can tap into, one also needs to keep in mind that they are also inconsistent energy sources by nature.
“In the absence of high-volume energy storage technologies, which do not exist and do not seem to be within reach in the foreseeable future, renewable sources need to be complemented by on-demand energy sources,” the chamber said.
“The only such carbon-neutral source is nuclear energy, which most EU countries have never invested in or voted out. The next cleanest on-demand energy source is gas. Even the production of hydrogen itself is energy-intensive. So while this fuel holds promise for the decarbonisation of large vehicles, ships and airplanes, energy generation and the pace at which viable alternative technologies will develop, remains a key challenge for the green transition.”
In a statement yesterday, the PN said it was in favour of a shift to hydrogen, also stressing that it was unacceptable for any funds to go towards the Electrogas shareholders.
The chamber concluded by saying it was imperative for Malta to have a gas pipeline in place by 2028, when the current 10-year agreement for the supply of gas expires.
“The possibility of converting the proposed gas pipeline into a hydrogen pipeline, improves the long-term viability of the project. It is a fact that we have one main energy provider and we do not have the luxury of making subjective assessments on the shareholders of our energy provider before deciding whether to switch the light on or off.”
“At this stage, Malta needs to have its second interconnector by 2025 while continuing to invest on renewable energy so as to reach its decarbonisation targets.”
Do you agree with the Chamber of Commerce?
READ NEXT: Man Dies While Positive For COVID-19 As Malta Records 88 New Cases
