ELS #Energy - Foreign policy focused on hydrogen

Last week, ELS analysed the not so positive consequences of the Energy Ministers’ discussion regarding the Hydrogen and Gas Market Package, which could delay hydrogen investment and the creation of a comprehensive legal framework.

Busy week for EU foreign affairs. The EU and Egypt reaffirmed their commitment to the Paris Agreement goals and jointly asserted the role of renewable hydrogen being a key contributor in reducing emissions and ensuring energy security. Before that, Presidents von der Leyen and Biden in Washington reiterated the need to reduce natural gas consumption while agreeing on increased LNG supplies to Europe. Meanwhile, President Michel is worried about an exodus of European companies’ and, hence, has called to mobilise all appropriate financial tools both at a national and EU level, to maintain a level playing field within the Union.

Week ahead, ELS Analysis keeps its eyes on the upcoming energy measures vote, the debate around the REPowerEU file and the developments on the ETS trilogue.

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