The European Commission took steps on Thursday to avoid future crises over supplies of natural gas, as new evidence emerged that another of its main energy goals -- encouraging biofuels -- might need to be revised.

Günther Oettinger, the bloc's commissioner for energy, pledged 200 million euros ($273 million) for a pipeline that would start delivering gas by around 2015 from the Caspian Sea region, bypassing Russia and Ukraine.

It was the first time the commission had offered money for the construction phase of a gas pipeline. Mr. Oettinger said the offer, which was presented as part of a package of energy infrastructure projects worth 2.3 billion euros, was a "milestone" for European energy policy.

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Posted by mopeng at March 4, 2010 1:31 PM