1. This Regulation lays down guidelines for the timely development and interoperability of priority corridors and areas of trans-European energy infrastructure set out in Annex I ('energy infrastructure priority corridors and areas').
2. In particular, this Regulation:
(a)
addresses the identification of projects of common interest necessary to implement priority corridors and areas falling under the energy infrastructure categories in electricity, gas, oil, and carbon dioxide set out in Annex II ('energy infrastructure categories');
(b)
facilitates the timely implementation of projects of common interest by streamlining, coordinating more closely, and accelerating permit granting processes and by enhancing public participation;
(c)
provides rules and guidance for the cross-border allocation of costs and risk-related incentives for projects of common interest;
(d)
determines the conditions for eligibility of projects of common interest for Union financial assistance.