MOSCOW (Sputnik) — The 94 miles long project dubbed Balticonnector will enable the transport of 7.2 million cubic meters of gas per day in both directions and is expected to cost some $204 million.
"Today's signature shows that the European Union delivers and unites. It is the result of close cooperation and a proof of true European solidarity. We are doing more than linking gas systems of two countries. We are bringing people and Member States in the region closer together by building a pipeline that unites European countries," Juncker said as quoted in the statement.
Finland currently receives gas flows from a single source which is Russia while EU's Energy Union strategy seeks ensuring access of each EU state to at least three different sources of natural gas.
