Poland and the European Commission signed an agreement for financing the Baltic Pipe

The European Commission will participate in financing of pipeline construction.

Representatives of Polish authorities signed an appropriate agreement on April 15. Negotiations have been continuing for 3 years.

“We managed to sum up the results of the three years of negotiations by signing an agreement on co-financing the Baltic Pipe project, within which part of the funds for the construction of the gas pipeline will be allocated from European funds”, the office of Polish Prime Minister Mateusz Moravetsky, who took part in the signing ceremony, told on Twitter “After three years, the gas pipeline will appear”, the Head of the Polish government said, expressing confidence that this project would strengthen European energy security.

The European budget will allocate €215 million for the pipeline construction.

Poland annually consumes 15 billion cubic meters of gas. It produces a third of this volume independently in its territory, and imports the rest. The main supplier of gas to Poland is Russian Gazprom, on the basis of a long-term contract with which the country can purchase 10.2 billion cubic meters of gas annually.

The Baltic Pipe gas pipeline should link the fields on the Norwegian shelf in the North Sea with Poland through Denmark. The planned capacity of the pipeline is 10 billion cubic meters per year.

It was said earlier that because of dependence from the monopoly supplier – Russia, Poland lost 50-100 billion zlotys in 2001-2018.

Source: enkorr

Tags: Gazprom, gas, contracts, EU, The European Commission, gas transit

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