Creation date: December 22, 2015
In the presence of the Finnish Economic Affairs Minister Olli Rehn and EU Climate Action and Energy Commissioner Miguel Arias Cañete, a grant agreement of €5.4 million has been signed today for studies necessary to launch construction works of the BalticConnector gas pipeline. The BalticConnector will be the first gas pipeline to connect Estonia and Finland and will significantly increase energy security in the eastern Baltic Sea region. It will allow the transportation of gas in both directions and, together with the gas interconnector Poland-Lithuania, will help finalise the Baltic Gas Ring and end the isolation of the Finnish gas market.
EU Commissioner for Climate Action and Energy Miguel Arias Cañete said: "Today's signature is a result of close regional cooperation and a proof of true commitment on all sides to end energy isolation. It marks an important first step for connecting the gas markets of the Eastern Baltic Sea region with the rest of the EU gas market. Building missing infrastructure links which is a prerequisite for a resilient, competitive and sustainable EU energy market, is a priority for the Energy Union."
Energy security and security of gas supplies are the cornerstone of the Energy Union. Finland is still fully dependent on gas flows from a single supplier and, until recently, the three Baltic States also had to rely on gas imports from a single gas source.
Once completed, the BalticConnector and the gas link between Poland and Lithuania GIPL (see IP/15/5844 and MEMO/15/5845) will allow Finland and the Baltic States to diversify their gas sources and routes and thus help to effectively deal with possible supply shortages in the future. And it integrates the entire region into the EU's internal energy market.