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Wednesday, August 10, 2016

187.5 million euro investment of the EU in first gas pipeline between Estonia and Finland

Energy,-,

News In order to unite the energy markets, the Europen Union is investing and supporting infrastructure needed. Therefore, the 10th of August 2016, the European Commission has decided to allocate €187.5 million for the construction of the Balticconnector, the first Estonia-Finland gas pipeline.

Thanks the Balticconnector, the gas isolation of Finland will be ended and it will help to develop the Baltic regional gas market. Both Baltic Connector Oy (Finland) and Elering AS (Estonia) have been chosen to construct the pipeline.
It will include Finnish onshore (22 km) and offshore (80 km) sections, as well as an Estonian onshore (50 km) one. The EU’s financial support to the Balticconnector comes from the Connecting Europe Facility program.

Source :  Press room - European commission


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