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EU should increase funding of energy infrastructure

Staff writer |
The European Union (EU) should look for ways to increase the volume of funding it provides to co-finance important energy infrastructure from its budget, Czech Prime Minister Bohuslave Sobotka said at international conference Globsec in Bratislava.

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Energy security was a topic discussed by prime ministers of Visegrad Group countries at the Globsec conference. The group comprises the Czech Republic, Slovakia, Poland and Hungary.

The prime ministers agreed that it is necessary to secure better interconnection of European markets, above all of the markets for gas, and reduce dependence on Russia. The EU has a list of projects of international importance, for which co-financing mechanisms could be looked for, according to Sobotka.

Sufficient co-funding from the EU could motivate private investors to participate in building energy infrastructure, Sobotka said.

Slovak Prime Minister Robert Fico said energy security is an absolute priority for the Visegrad Group.

The individual states must work on technical measures which will extend the possibilities of the so-called reversed flow, according to Fico. If a country lacks gas, a neighbouring state can help it thanks to the reverse flow, although gas flows in an apposite direction under normal circumstances, he said and also mentioned the importance of gas interconnection on the North-South axis running through Poland, Slovakia and Hungary.

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