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European Commission releases €215 million for Baltic Pipe construction

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Christian Fernsby ▼ | April 16, 2019
The European Commission has committed to providing €215 million to finance part of the construction costs of the Baltic Pipe project designed to carry Norwegian gas to Danish and Polish markets.
The Baltic Pipe project is a gas infrastructure project
Europe   The Baltic Pipe project is a gas infrastructure project
The grant agreement releasing 215 million euros of EU funding for the construction works for the Baltic Pipe project which will bring gas sourced from Norwegian offshore fields via the Baltic Sea to Poland was signed on Monday in Brussels.

According to the EC, the Baltic Pipe project is a gas infrastructure project aiming at creating a new gas supply corridor in the European market.

Poland, which according to reports has a gas supply deal with Russia’s Gazprom until 2022, hopes the Baltic Pipe Project would reduce Poland’s “and eventually Eastern and Central Europe’s” dependency on Russian gas imports.

The new pipeline will allow, as of 2022, the shipment of gas from the North Sea to the Polish market and further to the Baltic States, as well as to end-users in neighboring countries.

At the same time, EC says the pipeline will enable the supply of gas from Poland, including from Liquefied Natural Gas imports, to the Danish and Swedish markets.