New EU environment rules on oil and gas projects
Published by Elizabeth Corner,
Senior Editor
World dzԹ,
A European Parliament vote on new environmental impact assessment rules is a step forward in making Europe more competitive without compromising on the environment, the International Association of Oil & Gas Producers (OGP) said.
dzԹWhile not imposing unnecessary requirements on the upstream oil and gas industry, the new rules will guarantee that any development, including exploration for shale gas, will be subject to strict environmental standards,dzԹ said Roland Festor, OGPdzԹs Director for EU affairs.
New rules dictate environmental protection will become more stringent during progress of project
The new rules confirm the existing differentiation between exploration and production of hydrocarbons. It will ensure that the requirements for environmental protection become more stringent as a project progresses. This way, time and resources will be applied where they matter: on full environmental studies once a projectdzԹs economic potential is confirmed and its development is going ahead.
Too many detailed requirements during the early phase of exploration dzԹ when commercial viability of a project is totally uncertain and operations limited dzԹ would have undermined key investments, without bringing any additional benefit to the environment.
New rules provide framework for development of new energy resources
dzԹThe vote is a positive first step in enabling the assessment of domestic energy resources. Opportunities such as natural gas from shale must be explored and, if promising, will be crucial to encourage future economic growth and create new jobs,dzԹ said Mr. Festor.
dzԹShale gas exploration is even more crucial now that the EU is devising its 2030 climate and energy policy. Gas is the best resource Europe has dzԹ cleaner-burning, reliable and immediately available dzԹ to help meet EU emissions reduction targets quickly and at a competitive cost versus alternatives,dzԹ he explained.
Edited from various sources by
Read the article online at: /business-news/12032014/new_eu_environment_rules_on_oil_and_gas_projects/
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