EU invests in Baltic pipeline
The European Union has committed €187.5 million to the construction of pipeline connecting Estonia and Finland.
The Balticconnector will end Finland’s dependence on a single gas supplier and strengthen the security of gas supply to the Eastern Baltic Sea region.
The 79-km pipeline will be laid on the seabed of the Gulf of Finland and will have a capacity of 5.5 million cubic metre per day.
The EU also promised €18.6 million (US$20 million) to improve the Estonian-Latvian interconnection, enabling better access to gas storage in Latvia and creating a more diverse gas transmission network in the Baltic Sea region.
European Commissioner for Climate Action and Energy Miguel Arias Cañete said “Well-connected energy infrastructure is essential to achieving the Energy Union.
“This EU support will help fill existing gaps in energy infrastructure, putting us on the path to a truly connected European energy market.
“This is necessary to strengthen the security of energy supply and a more efficient use of the energy resources and integration of renewables into the grid.”
The Balticconnector is one of nine projects that shared €263 million ($US289 million) in grants as part of the funding support programme for the Connecting Europe Facility (CEF).
The projects were selected because they increase energy security, connect isolated EU Member States to the European grid, and provide affordable, secure, and sustainable energy.
A total of €5.35 billion (US$5.9 billion) has been allocated to trans-European energy infrastructure between 2014 and 2020.
For more information visit the EU website.
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