6.9 C
London
Friday, January 27, 2023
HomeEconomyAntónio Costa vindicates the weight of Spain and Portugal to supply energy...

António Costa vindicates the weight of Spain and Portugal to supply energy to the community countries | Economy | The USA Print

Date:

Related stories


António Costa and Pedro Sánchez greet each other before their meeting at La Moncloa palace, on May 26.
António Costa and Pedro Sánchez greet each other before their meeting at La Moncloa palace, on May 26.Sergio Perez (EFE)

The prime minister of Portugal, the socialist António Costa, wants to extend the Iberian cooperation, which has made it possible to carry out an exceptional mechanism to limit the price of gas and reduce its impact on the electricity bill, to other areas. The most urgent has to do with the role that the Peninsula can play as a territory for the entry of energy to the rest of Europe, now that the war in Ukraine makes it necessary to find alternative routes and supplies to Russia. “With what is already installed in the Iberian Peninsula and with small investments, we have the capacity to meet almost 30% of Europe’s energy needs,” he assured this Friday during a lunch with 200 Portuguese and Spanish businessmen held in Lisbon. “All the countries of central Europe have an urgency to solve this matter. In the last European Council, the importance of the Iberian Peninsula was discussed in order to reinforce energy security. Spain and Portugal have to take advantage of this unique opportunity”, stressed Costa.

For this, it is necessary to improve the connections of the Iberian energy infrastructures to France, although the Prime Minister has warned that if the Pyrenees route proves unfeasible, the sea route could be used. The Portuguese Government is committed to converting the port of Sines into a gas distribution platform to the rest of Europe, which includes both the increase in transport by ship and by gas pipeline to France. “It has taken a war to reach this new European consensus on the need to increase energy production capacity, distribution routes and production sources,” he noted.

In the act organized by the Luso-Spanish Chamber of Commerce, Costa has reviewed all the economic sectors in which both countries can go hand in hand to gain competitiveness. “We have the natural conditions to be suppliers of energy to Europe”, he stressed, referring to the development of existing renewable sources and others that are future bets such as green hydrogen. Portugal, in fact, aspires to produce 80% of its electrical energy in 2026 with renewable sources.

António Costa has stressed that Spain and Portugal must take advantage of their large lithium reserves to generate added value in the mineral treatment process and in the assembly of electric batteries. In addition, he has advocated turning the Peninsula into a hub for industrial and electronic production. “The EU’s commitment to the relocation of industries that had been relocated cannot remain in Eastern Europe,” he warned.

More ambiguous has been the prime minister regarding the high-speed connection between the two countries. Beyond the Atlantic corridor project, which will connect Vigo, Porto and Lisbon, Costa has not given details about the rest of the projects, especially the link between the two Iberian capitals. “The important thing is to know how Portugal adapts to the high-speed network, not so much if there is a line between Lisbon and Madrid. We have to decide if we want to be in or out of high speed”, he said. The prime minister has alluded to the next Spanish-Portuguese summit, to be held in the autumn in the Portuguese region of Minho, to address the issue with the Spanish government.

He knows in depth all the sides of the coin.

subscribe

Also Read:

The labor crisis in the airline sector leads to a chaotic summer at airports | companies | The USA...
The current stock market crisis has already destroyed more value of the S&P 500 than the one of 2008...
The community of neighbors will be able to leave the defaulters without a pool and demand more inter...
Biden plans to suspend the federal gas tax to combat inflation | Economy | The USA Print
How is the tax on electricity companies in other European countries | companies | The USA Print
Spain: The Government only spent 2,400 million of European funds last year | Economy | The USA Pri...
Norway rubs its hands with the energy crisis: "There are times when it's not fun to make money, and ...
A week of gas cap: neither fiasco nor panacea | Economy | The USA Print
The richest 1% concentrates 17% of the national income | Economy | The USA Print
The unions demand that the CEOE return to the salary negotiation table: "If there is no agreement, t...
Kellogg splits into three companies to accelerate growth | Economy | The USA Print
The funds give Abengoa until Friday to save itself from bankruptcy | Economy | The USA Print
The CNMV will redouble surveillance on cryptocurrency advertising at sporting events | Economy | T...
Israel Arroyo leaves the post of Secretary of State for Social Security and Pensions | Economy | T...
Elon Musk says there are three issues to be resolved to close the purchase of Twitter | Economy | ...
Airef criticizes the Government for the lack of information on the execution of European funds | Ec...
El Corte Inglés repurchases half of the shares held by the Qatari investor Al Thani for 387 million ...
Montero cools off Yolanda Díaz's proposal and advances that the surcharge on electricity companies w...
Mark NT
Mark NT
Mark NT was born and raised in the India. He worked at a literary development company as a publisher. He is a creative website writer for teens and a good book reviewer.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Up to 75% off on Best Web Hosting

X