The procurements announced are for the purchase of materials for the construction of the gas interconnection project's underwater section as well as the construction of the gas pipeline.

"Both the construction of the Balticconnector as well as the recently signed agreements for launching a Baltic gas exchange have a joint goal of setting up a common Baltic-Finnish gas market by 2020 which would be unique in Europe as it would join four countries without restrictions," Elering CEO Taavi Veskimägi said in a press release.

The results of the procurement will be announced in spring 2018.

Balticconnector, the total cost of which is €248 million, will enable natural gas to flow in both directions, for which compressor stations will be built at both ends of the pipeline. The planned capacity of the pipeline is 7.2 million cubic meters per day, which means that it will be able to meet Estonia's total needs even on the coldest winter days.

In parallel with the construction of the 150-kilometer Estonian-Finnish pipeline, gas transmission infrastructure in Southern Estonia will be updated to reinforce the gas interconnection between Estonia and Latvia.

The construction of the Estonian-Finnish gas interconnection will be completed by 2020.