Creation date: June 11, 2018
The start of Balticconnector’s construction phase was celebrated on 8th of June 2018 in Inkoo, Finland on the compressor station worksite with a groundbreaking ceremony. The European Commission Vice-President for Jobs, Growth, Investment and Competitiveness, Jyrki Katainen, the Minister of the Environment, Energy and Housing of Finland, Kimmo Tiilikainen, and the Minister of Economic Affairs and Infrastructure of Estonia, Kadri Simson, attended the event.
The Balticconnector is the name of an EU Project of Common Interest (PCI), the first gas interconnector between Finland and Estonia, aiming to end the long lasting gas isolation of Finland and to help boosting the security of supply and bringing an economic lift to the region. 21 kilometres of the pipeline will be constructed in Finland, 77 kilometres under the sea, and 55 kilometres in Estonia. The gas pipeline is bi-directional, and its transmission capacity will be 7.2 million cubic metres of gas per day. When completed by the end of 2019, Balticconnector will connect the gas networks of Finland and the Baltic countries and will enable the opening of the gas market in Finland.
The total cost of the project is €250 million. Parts of this project - the preparatory studies and the actual construction - are co-financed by the Connecting Europe Facility (CEF). The grant for works - €187,5 million - was awarded in August 2016 and covers 75% of the construction costs, the maximum co-financing level permitted.
The Connecting Europe Facility in the field of energy provides funding to infrastructure projects in electricity, natural gas and smart grids with the aim to better interconnect energy networks towards a single energy market in Europe. The programme supports the key objectives of the Energy Union by promoting further integration of the internal energy market, enhancing security of energy supply and integrating energy from renewable sources into the network.
PCI's project factsheet (DG ENERGY's website)
More information (beneficiary's website)