This briefing shows that further public investment in EU gas infrastructure is likely to represent bad value for money, given:
- the very limited need for new gas investment for security of supply;
- the change of the market where gas demand is falling;
- the failure to test new gas infrastructure against EU climate and energy targets;
- the opportunity cost of not investing scarce EU public funds in other more productive areas, notably energy efficiency, renewable energies and electricity grids.
As a result, funding for new gas infrastructure under the EFSI 2.0 should be phased out. This would send a powerful signal that the EU will properly implement the Paris Agreement and create a much needed international precedent.