The Finnish government on Wednesday endorsed the Balticconnector undersea gas pipeline project in the portion that will be built within the Finnish economic zone. The approval is conditional on the project meeting valid requirements so as to avoid damage.
The gas pipeline will consit of three sections — a 22-kilometer section in Finland, an 80-kilometer section at the bottom of the Gulf of Finland as well as a a 50-kilometer section in Estonia. The interconnection is expected to be completed in 2019.
The European Commission announced last year that the project will receive €187.6 million in EU funding, which will cover two-thirds of the project's total cost of €250 million. The rest of the necessary funding will be covered by Finnish state-owned company Baltic Connector and Estonian state-owned transmission system operator Elering.
The European Commission announced last year that the project will get €187.6 million in EU funding, which covers two-thirds of the total project cost of €250 million. The rest will be provided by Finnish state owned company Baltic Connector and Estonian state owned transmission system operator Elering.
Editor: Aili Vahtla