Policy & Regulation

Balticconnector forms part of EU’s import strategy

Brussels hopes the Balticconnector pipeline will safeguard against supply disruptions and give more bargaining power in contract negotiations Brussels hopes the Balticconnector pipeline will safeguard against supply disruptions and give more bargaining power in contract negotiations.
By Andreas Walstad 24 October 2016 0 22495
EC President Jean-Claude Juncker with the Estonian and Finnish PMs at the Balticconnector signature ceremony. (EC)

The signing ceremony for the planned Balticconnector pipeline between Finland and Estonia took place in Brussels on Friday, with officials signing a €175 million ($190 million) grant from the European Commission that will cover 75% of the construction cost.

The bi-directional, 7.2 million cubic metre per day Balticconnector is slated to become operational in 2019/2020, and is seen by Brussels as a strategically important project that could help reduce Russia’s influence in the Baltic region. Finland currently imports all of its gas from Gazprom, while the...