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This bill — the European Energy Security and Diversification Act of 2019 — would authorize up to $1 billion in financing to catalyze U.S. public and private sector investment in strategically important energy projects in eligible Central & Eastern European countries from fiscal years 2020 through 2024. These projects would include natural gas infrastructure and electricity infrastructure and funding would come from the Countering Russian Influence Fund.

It’d also authorize the U.S. Trade and Development Agency (USTDA) to spend $5 million per year on project feasibility studies, reverse trade missions, pilot projects, and technical workshops to support projects in early development.

Finally, this bill would encourage the State Department to ramp up its political and diplomatic support to eligible countries. This includes facilitating negotiations for cross-border energy infrastructure and assisting eligible countries with improving their energy markets and regulatory environments.

The full list of eligible countries would include Albania; Bosnia and Herzegovina; Bulgaria; Croatia; Cyprus; the Czech Republic; Estonia; Greece; Hungary; Kosovo; Latvia; Lithuania; Macedonia; Moldova; Montenegro; Poland; Romania; Serbia; Slovakia; Slovenia; and Ukraine.

","official_title":"To prioritize the efforts of and enhance coordination among United States agencies to encourage countries in Central and Eastern Europe to diversify their energy sources and supply routes, increase Europe's energy security, and help the United States reach its global energy security goals, and for other purposes.","short_title":"To prioritize the efforts of and enhance coordination among United States agencies to encourage countries in Europe and Eurasia to diversify their energy sources and supply routes, increase energy security in the region, and help the United States reach i","popular_title":null,"short_summary":"","summarized":true,"cost":496000000,"cost_commentary":"The CBO estimates that enacting this bill would cost $496 million over the 2019-2029 period.","impact":"Oil and natural gas; Central and Eastern European allies; State Department; and the USTDA.","argument_for":"Europe’s dependence on Russian energy makes it susceptible to Russian manipulation and coercion. 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Should the U.S. Invest in Natural Gas & Energy Infrastructure in Central & Eastern Europe to Counter Russian Influence?