The EU has signed an agreement on co-financing of the Baltic pipe

The operators of the Polish and Danish gas transport networks have signed an agreement with the EU Executive Agency for innovation and networks (INEA) on co-financing of the Baltic pipe.

The pipeline, planned to link Poland with Norway via Denmark, is part of Warsaw’s efforts to diversify gas supplies and reduce the country’s dependence on Russia.

Thursday’s agreement follows the decision of European member states to provide EU financial support for the Baltic Pipe project under the Connecting Europe Facility (CEF) programme.

The maximum financial assistance amounts to EUR 33.1 million, Polish operator Gaz System said.

The head of Gaz System, Tomasz Stępień, said EU financial assistance proves the project’s importance for boosting security, diversifying gas supplies and constructing an integrated and competitive gas market in the Baltic region and Central and Eastern Europe.

“Baltic Pipe, along with the expansion of the LNG terminal in Świnoujście and other current enterprises, particularly the construction of cross-network links with countries such as Lithuania and Slovakia, are the keys to meeting the CEE and Baltic regions’ energy challenges,” Stępień said.

“These investments will open Europe’s competitive gas market to countries of [the CEE] region,” he added.

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