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The Nabucco project has hardly move ahead since 2002 (Photo: europa.eu)

EU splashes out €2.3 billion on anti-gas crisis projects

by Valentina Pop, Brussels,

The European Commission on Thursday (4 March) approved financing for 43 gas and electricity interconnection projects worth €2.3 billion as part of a bigger "recovery package" agreed last year in response to both the economic and the Russian-Ukrainian gas crisis.

The funding, which varies between €1 million to 200 million per project, comes with a series of caveats - mainly imposed by Germany last spring when it agreed to the deal after months of haggling. For instance, the money needs t...

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