Excess LNG will lower gas prices and allow us to move more comfortably towards the transition

Commission president Ursula von der Leyen predicts lower energy costs.

According to what she emphasized in her speech to the European Parliament yesterday, the large wave of new LNG production stations in the coming years will turn the E.U. from deficit to surplus. “As a result, we expect gas prices to fall. This gives us room to further develop RES and it is a significant success that last year wind produced more electricity than gas,” he said.

The president of the Commission referred to the crises that the EU has gone through in the last five years such as the coronavirus pandemic, the war in Ukraine and the “energy crisis originating from Russia”.

As he pointed out, “they could have turned into a dramatic economic and social crisis. But it didn’t happen. And this happened both because of Europe’s great resilience, but also thanks to the right policies”, such as the SURE, Next GenerationEU and RePowerEU programmes.

Speaking about clean energy investment, Leyen said “we are investing €400 million through NextGenerationEU and have approved over €550 billion in national support. But public investment is not enough. It is time for a systemic solution that mobilize massive private capital and part of the solution is the completion of the Unified Capital Market (CMU)”.

Through the CMU, the Commission estimates that another 470 billion euros can be raised.