Southern Corridor is missing link in EU infrastructure

European Commission President Jose Manuel Barroso said at a press conference in Brussels on Wednesday that the EU is addressing important and difficult challenges such as the stability of the euro, tax discipline, structural reforms and support for European banks.

However, it should be absolutely clear, he said, that an important part of the EU's approach is to create conditions for developing and creating jobs.

"We primarily concentrate our efforts on the development to take the necessary steps to stimulate employment growth. Investment in a certain extent will help us achieve it," he said.

Barroso stated that the European Commission adopted an investment plan worth 50 billion euros to improve transport and energy infrastructure, as well as digital communications networks. These funds will be distributed as follows: 31.7 billion for upgrading transport and communications, 9.1 billion - for Trans-European energy projects and 9.2 billion - for the development of high-speed broadband information networks and Pan-European digital communications services.

However, the burden was not opening new job as a tactic target, but providing 'failing squads' in the overall infrastructure of the EU, whose absence impeded it to function as a unified body.

Barroso called North-South transport corridor from Helsinki to Valletta, railway from Portugal through Spain to Bordeaux, East-West Transport Corridor from Warsaw through Berlin to Rotterdam as an examples where the funds will be allocated. Speaking about energy projects, he said there is need to create 11 energy corridors, which would cover the whole territory of the EU, but mentioned two: "We are working on funding such projects as the "Southern Gas Corridor" and the network of wind power plants in the North Sea".

As Reuters reported, the EU plans to make these investments from 2014 to 2020, which covers the second phase of the Azerbaijani Shah Deniz field's development and the construction of the Nabucco gas pipeline worth 8-14 billion euro.

Once again, stressing the importance of the Southern Gas Corridor project for the EU, European leadership made one more practical step, backing their intentions with specific financial resources for its implementation.


Azer Ahmedbeyli
/Trend/