EU Leaders Reach Joint Purchasing Of Gas Agreement In ‘Intense’ European Council Meeting
European leaders have come to an agreement over the future of EU Member States buying gas following “intense negotiations” in Brussels on Thursday and Friday, which Maltese Prime Minister Robert Abela attended.
“The Council’s conclusions, which will promote support for Maltese families and businesspeople in the energy sector at a European level, are reflected in the decisions we take as a country every day to continue protecting out people,” Abela said after the meetings concluded.
“Maltese and Gozitans can continue to have peace of mind that the government is with them and working in their interests,” he continued.
Work on the joint purchasing of gas between the 27 member states will be intensified in the coming days.
Although Malta is covered by a contract that ensures the security of the island’s energy supply, the framework for the joint purchasing of gas could help reduce energy prices globally, including the energy imported from the interconnector between Malta and Italy.
Abela added that Maltese and Gozitan families will continue to enjoy economic and social stability due to the unchanging local energy prices as a result of the government’s support, which, this year, will reach €1 billion.
He said that this milestone achievement reached by the European Council is a “step in the right direction”.
Throughout the discussions, he called on the European Commission to continue monitoring gas and energy prices closely and, when necessary, propose action to mitigate an increase in prices.
Furthermore, considerations are being made to increase flexibility in the Temporary Crisis Framework for State Aid, which would allow member states to provide aid through support schemes to private entities in various sectors, including transport and energy, up to a maximum of approximately €750,000 until the end of 2023.
The European Council also discussed the possibility of simplifying the framework on permits for renewable energy projects, and Abela said that through this, Malta could benefit greatly and quicken the process to achieve its decarbonisation objectives.
Abela referred to the European Commission’s commitment to supporting investment in renewable energy and supporting competitiveness in the EU and Malta. The conclusions also highlighted the need for investment in technologies that improve the efficiency of energy use.
Other thematic issues, including economic affairs, were also addressed during the European Council.
Abela stated that a social policy safeguarding families and businesses must be implemented at both a national and EU level.
When discussing external affairs, European leaders reiterated their support for Ukraine, discussed EU-China relations, and looked forward to the UN Conference on Climate Change, COP27. Abela outlined the importance that at COP27, leaders must honour the Paris Agreement and the Glasgow Climate Pact to continue combatting climate change with long-term measures.
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