EU Funds Canary Islands LNG Storage Study

The European Union will through its TEN-T Programme back with almost EUR 500,000 (USD 617,000) a study on the storage and use of liquefied natural gas (LNG) in the Spanish Canary Islands, saying that  the economically attractive LNG could help reduce road and short sea transport emissions in the archipelago. The project will study the possibilities of introducing LNG in the Canary Islands to break the current dependence on oil and contribute to a reduction in energy costs and improved air quality. In particular, the project will identify the short and medium-term market demand for LNG and compressed natural gas (CNG), assess the feasibility and cost of delivering LNG to the Canary Islands, analyse storage and supply, as well as study the possible transfer of the solution to other remote European regions. The project was selected for EU funding with the assistance of external experts under the TEN-T Annual Call 2013, priority Decarbonisation / oil substitution or environmental cost reduction. Its implementation will be monitored by INEA, the European Commissions Innovation and Networks Executive Agency. The project is to be completed by December 31, 2015. Press Release; Image: Haga