Blog
Cyprus gas could get green EU label and funds
March 24, 2021
The European Union plans to label some gas power plants as sustainable investments, a draft document seen by Reuters showed, after an initial proposal to deny them a green label faced a backlash from some member states.
Cyprus is planning to step up gas production and to develop its LNG terminal at Vasilikos where the first gas deliveries are scheduled for 2022.
The Commission’s new proposal, shared with EU countries on Saturday, would class gas-fuelled plants that generate power plus heating or cooling as a green investment if strict conditions on emissions are met and they are operating by 2025.