EU Funding Boosts Hydrogen Pipeline Projects in Baltic Sea Region
Key Ideas
- Over 51 million euros of EU funding have been granted to Gasgrid and its partners for three hydrogen pipelines in the Baltic Sea region.
- The Nordic Hydrogen Route, a 1,000-kilometer pipeline between Finland and Sweden, received the largest funding of 29.4 million euros.
- The pipelines are seen as strategic for Finland and the Baltic Sea Region, attracting investments, creating jobs, and supporting EU climate targets.
- Gas flow through the Nordic Hydrogen Route pipeline could begin in the early 2030s, contingent on various factors.
Gasgrid, a Finnish state-owned gas transmission system operator, along with its partners, has secured over 51 million euros in EU funding for three planned hydrogen pipelines in the Baltic Sea region. This funding, granted by the Connecting Europe Facility program, aims to boost the energy infrastructure in the European Union. The Nordic Hydrogen Route, a significant project among the three, will span 1,000 kilometers between Finland and Sweden along the Bothnian Bay, receiving the highest amount of funding at 29.4 million euros.
The CEO of Gasgrid, Olli Kärki, highlighted the strategic importance of these pipelines in advancing the hydrogen economy in Finland and the Baltic Sea Region. Besides attracting investments and creating job opportunities in Finland, these projects align with EU climate and energy policy goals, aiming to cover at least 10% of energy with renewable hydrogen by 2050.
The European Parliament and the Council of Europe have granted the projects a PCI status, signifying their importance in the region's energy landscape. The timeline for gas to start flowing through the Nordic Hydrogen Route pipeline is projected to be in the early 2030s, subject to various estimations and factors. Overall, the EU funding injection is set to play a crucial role in advancing hydrogen infrastructure and decarbonization efforts in the Baltic Sea Region.
Topics
Projects
Renewable Energy
Job Creation
Energy Infrastructure
Decarbonization
EU Funding
Climate Policy
PCI Status
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