BiH Included: European Energy Security Act Before US Congress

(Patria) - As early as last year, US Secretary of State Mike Pompeo promised Ukraine the continuation of the joint fight against the "Nord Stream 2" pipeline, which, in his opinion, undermines European security, and recently, on February 28, the European Energy Security and Diversification Act of 2019 was submitted to the US Congress.

This Act prioritizes efforts and improves coordination among United States agencies to encourage European countries to diversify their energy sources and supply routes, and to enhance the energy security of European countries and help the United States achieve its global energy security goals, reports Patria agency.

This Act also covers Bosnia and Herzegovina, and the list includes 42 European countries, which should be provided with diplomatic, political, and technical support through this Act, facilitation of international negotiations regarding cross-border infrastructure, and improvement of the regulatory environment for European countries in the energy sector. 

It also envisages the development of affordable, transparent, and competitive energy markets supplied by diverse energy sources, types, and routes, and the provision of support for improving European energy markets, including support for early-stage projects and support for late-stage projects for the construction or improvement of energy infrastructure.

Support for late-stage projects includes loans, guarantees, insurance, reinsurance, and equity investments, writes Patria.