EU grants Poland a further 215 million euros for Baltic Pipe gas project

19/04/2019 09:09 Natural Gas

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The European Commission has signed a deal with Poland’s GAZ-SYSTEM that will see a further 215 million euros invested in a natural gas pipeline between Denmark and Poland in order to import Norwegian gas.

GAZ-SYSTEM signed the agreement to co-finance the so-called Baltic Pipe as part of the Connecting Europe Facility with the Innovation and Network Executive Agency of the EU.

 

The Baltic Pipe project is due to become operational in 2022 and is aimed at making the region less dependent on Russian gas supplies.

 

Thus far EU support for the project has amounted to almost 266.8 million euros, and the total value of the project upon completion in 2022 is estimated to be 1.6 billion euros, of which around half is to be borne by the Poland.

Source: emerging-europe.com

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