An official signing ceremony was held on 17 December for the final decision to invest more than 18 billion dollars in the extraction of gas from the Shah Deniz II gas field in Azerbaijan. It was earlier agreed that ten billion cubics metres will be delivered directly to Europe every year, starting from the end of 2019. The construction of the TAP pipeline, upgrading of other relevant pipelines and the development of the Shah Deniz II gas field will strongly enhance Europe's energy security by diversifying its energy sources. The signing ceremony was held in Baku in the presence of Azerbaijan's President Ilham Aliyev.
Today the European Ministers for Transport, Telecommunications and Energy (TTE) met under the Lithuanian Presidency. Unfortunately they did not reach political agreement on the ILUC Directive. The European Commission had tabled the proposal for a new directive amending the directives on fuel quality and on renewable energy to address indirect land use change in autumn 2012. It aims at decreasing the greenhouse gas emissions from indirect land use change when growing the first generation biofuels, as well as limiting the use of food and feed sources for biofuels production, while existing investments should be protected.
The ministers also discussed progress on the completion of the Internal Energy Market. More efforts are needed to transpose the relevant EU law, develop energy infrastructure and end the energy isolation of some member states. Other priorities are boosting competition and diversifying our energy supply. Also on the agenda were the latest developments in the EU’s external energy relations focusing on our Eastern and Southern neighbours, the Energy Community and China.