Finland to apply for EU funding for gas pipeline between Finland and Estonia

In its meeting on 2 October, the Ministerial Committee on Economic Policy decided that Finland will apply for funding in the European Union PCI application round this autumn together with Estonia for the Balticconnector gas pipeline between Finland and Estonia. The application deadline is 14 December 2015. A State-owned company will be established, whose mandate will be to implement Finland’s part of Balticconnector.
Minister of Economic Affairs Olli Rehn emphasises that when completed, the Balticconnector pipeline will link Finland with European gas networks and open the Finnish gas market to competition.
- The Balticconnector gas pipeline cannot be implemented without substantial European investment funding. To carry out the project, Finland will need 75% from the Connecting Europe Facility of the EU, says Rehn.
In line with the Ministerial Committee’s decision, Finland will inform the Estonian Government that Gasum will hand over the responsibility for the regional LNG terminal to a project coordinator designated by Estonia.