Since 2013, the European Union has spent nearly €440 million on fossil gas infrastructure projects that have failed (‘stranded assets’) or are at risk of failure, according to an analysis by international NGO Global Witness published on Monday 22 February.
According to this analysis, out of the €5 billion in grants and subsidised loans provided by the EU to 41 gas projects, €439 million has been given to seven gas projects that never got off the ground or were built, but...