Balticconnector pipeline to cost Estonia 25 MEUR

Considering that own investment in the Balticconnector pipeline will be divided in equal parts between Finland and Estonia, Estonia’s share of the cost will come to around 25 million euros.

“The construction of Balticconnector will be 75 percent financed by the Connecting Europe Facility and the remaining 25 percent will be put up equally by Estonia and Finland,” head of the Estonian government’s communication office Tiina Ansip told BNS.

The undersea pipeline connecting the Estonian and Finnish natural gas networks scheduled to be completed by 2019 is estimated to cost 200 million euros to build.

The prime ministers of Estonia and Finland, Taavi Roivas and Alexander Stubb, reached an agreement on Monday that a regional liquefied natural gas (LNG) terminal will be built in Finland and the two countries will together proceed with the Balticconnector project.

Balticconnector would link gas markets of the two countries and give the Finnish gas company Gasum access to the Incukalns underground storage facility in Latvia. Once a regional LNG terminal was built in Finland the pipeline would also give Estonia access to the terminal.

Source: BNS via Estonian Review

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