New EU environmental impact assessment rules good for competitiveness & growth
OGP has welcomed the European Parliament’s recent vote on new environmental impact assessment rules as a step forward. They improve Europe’s competitiveness without compromising on the environment.
“While not imposing unnecessary requirements on the upstream oil & gas industry, the new rules will guarantee that any development, including exploration for shale gas, will be subject to strict environmental standards,” said Roland Festor, OGP’s director for EU affairs.
“The new rules confirmed the existing differentiation between exploration and production of hydrocarbons. They 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 project’s economic potential is confirmed and its development is going ahead.”
The Association believes that too many detailed requirements during the early phase of exploration – when commercial viability of a project is uncertain and operations limited – would have undermined key investments, without bringing any additional benefit to the environment.
A positive step
“The 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,” continued Roland.
OGP has recently published a position paper which calls on the European Commission to encourage such exploration.
“Shale 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 – cleaner-burning, reliable and immediately available – to help meet EU emissions reduction targets quickly and at a competitive cost versus alternatives,” he concluded.
Shale gas development could have other significant benefits for Europe. According to a recent study, domestic EU development could create as many as 1 million jobs by 2050, while reducing the region’s dependence on energy imports and relatively lowering prices (see Highlights November 2013).