Co-financing agreement for Baltic Pipe engineering works officially signed
GAZ-SYSTEM and Energinet signed a tripartite co-financing agreement with the EU Innovation and Networks Executive Agency (INEA) for Baltic Pipe engineering works under the Connecting Europe Facility (CEF). The signing ceremony took place on 24 May 2018, during the "Energy Infrastructure Forum" in Copenhagen.
The signing of the co-financing contract implements the EU Member States' decision of 25 January 2018 on awarding financial assistance to the Baltic Pipe project under the EU Connecting Europe Facility (CEF). The financial support was granted in the 2017 CEF Energy competitive call to the project titled "Preparatory works for the Baltic Pipe Project up to obtainment of all necessary permission(s) in Poland and in Denmark" implemented by Polish and Danish Transmission System Operators - GAZ-SYSTEM and Energinet.
According to Tomasz Stępień, CEO, financial support awarded by the European Union confirms the relevance of the Baltic Pipe project for increasing the security and enhancing diversification of natural gas supplies, as well as the development of an integrated and competitive gas market in the Baltic Sea region and Central and Eastern Europe. - Baltic Pipe is a project which will allow us to diversify not only the directions, but also the sources of 'blue fuel' supplies - said Tomasz Stępień, President of the Board of GAZ-SYSTEM.
He also pointed out that the co-financing awarded under the Connecting Europe Facility demonstrates the relevance of this project to the EU. - Baltic Pipe project, together with the expansion of the LNG Terminal in Świnoujście and combined with other projects being currently in progress, including the construction of gas interconnectors with Lithuania and Slovakia, is the strategy addressing energy challenges faced in the Central and Eastern Europe and the Baltic Sea region. Once successfully implemented, these investment projects will finally open the competitive European natural gas market to the countries in our region – Tomasz Stępień added.
The signing ceremony of the co-financing agreement was attended by:
- Piotr Naimski, Government Plenipotentiary for Strategic Energy Infrastructure;
- Michał Kurtyka, Secretary of State in the Ministry of Energy, Government Plenipotentiary for the COP24 Presidency;
- Kristoffer Böttzauw, Ministry of Energy, Utilities and Climate, Denmark;
- Miguel Arias Cañete, Commissioner for Climate Action and Energy, European Commission;
- Dominique Ristori, Director-General of DG Energy, European Commission;
- Klaus-Dieter Borchardt, Director of Internal Energy Market in DG Energy, European Commission;
Torben Brabo, Senior Vice President, Energinet;
- Tomasz Stępień, CEO, GAZ-SYSTEM;
- Dirk Beckers, Director of the Innovation and Networks Executive Agency (INEA).
***
On 25 January 2018, the European Commission's proposal of co-funding under the Connecting Europe Facility (CEF) granted to the Baltic Pipe project engineering works was approved by the Member States of the European Union. The grant was awarded under the 2017 CEF Energy competitive call.
The Connecting Europe Facility (CEF) is a key EU funding instrument to promote growth, jobs and competitiveness through targeted infrastructure investment at European level. It supports the development of high performing, sustainable and efficiently interconnected trans-European networks in the fields of transport, energy and digital services.
The maximum EU financial support granted under the said co-financing agreement to the Baltic Pipe project amounts to EUR 33.1 million.
Earlier, in 2015, Baltic Pipe project was granted financial support under the CEF Programme for the analytical works and development of feasibility study.
On 24 November 2017, the Baltic Pipe Project was recognized by the European Commission as a ‘Project of Common Interest’ (PCI) fostering gas energy sector integration in the Baltic region (BEMIP). It is the third time the PCI status is awarded to Baltic Pipe; earlier the project was included in PCI list adopted in 2013 and 2015 respectively.
***
The Baltic Pipe Project is a strategic gas infrastructure project aimed at creating a new gas supply corridor in the European market. The Baltic Pipe Project will allow transport of gas from Norway to the Danish and Polish markets, as well as to end-users in the neighbouring countries.
The main objectives of the Baltic Pipe Project encompass further enhancement of gas supplies diversification, natural gas market integration, price harmonisation and ensuring the security of gas supplies primarily to Poland and Denmark, as well as to Sweden, Central and Eastern Europe (CEE) and the Baltic Sea region.
For more information on Baltic Pipe project, visit: www.baltic-pipe.eu and GAZ-SYSTEM and Energinet websites.
