aA
The European Investment Bank (EIB) has signed a €65 million loan agreement with Lithuanian gas transmission system operator AB Amber Grid to finance the construction of the Lithuanian section of the planned gas interconnection between Poland and Lithuania.
Litgrid and LitPol Link
Litgrid and LitPol Link
© DELFI / Karolina Pansevič

The interconnector will be the first high-pressure gas pipeline between Poland and Lithuania, integrating the Baltic States and Finland into the wider EU gas market and diversifying gas supply sources. The project will also increase security and reliability of gas supplies for the local and regional market.

EIB Vice-President Thomas Östros remarked: “Security of energy supply is a recurring theme in the EIB’s investments in the Baltic States. This interconnection with Poland is a key step in the real integration of the European energy market, as it will allow all of the Baltic States and Finland to fully connect to European gas networks.”

On a technical level, the project will see the construction of a 700 mm diameter, 165 km long high-pressure bi-directional underground gas transmission pipeline, with a maximum potential capacity of 2.4 bcm/y (27 TWh/y), running from the border with Poland in the Lazdijai District to the Jauniūnai compressor station located in the Širvintos District, north of Vilnius.

CEO of Amber Grid Nemunas Biknius added: “The favourable terms of the loan clearly indicate the EIB’s recognition of our commitment to the timely implementation of the GIPL project, which will create long-term value for the region’s gas market integration, benefiting consumers and gas market operators across the borders.”

In terms of regional connections, the EIB previously financed the electricity interconnector between Poland and Lithuania, known as the LitPol Link.

DELFI EN
It is forbidden to copy the text of this publication without a written permission from DELFI.
|Populiariausi straipsniai ir video

Sapoka: country's economy is withstanding pandemic challenges very well

Lithuania's economy is coping very well with challenges induced by the coronavirus crisis, and the...

Zalatorius steps down as head of Lithuania's banking association

Mantas Zalatorius , suspected of corruption, is stepping down as head of the Association of...

Coronavirus-triggered economic crisis less severe than in 2009

Lithuania's gross domestic product contracted by 3.7 percent in the second quarter of 2020 from a...

Kucinskas is under investigation in Lithuania as well

Vidmantas Kucinskas , the founder of the Arvi business group who has been recently detained in...

Sources: Game Insight hit by Chinese hackers (2)

Game Insight , a Lithuanian developer and publisher of free-to-play mobile games and social-network...

Top news

Lithuania to impose quarantine on returnees from Poland next week

A senior epidemiologist on Wednesday warned Lithuanians against travelling to Poland , saying they...

No official information on Astravyet NPP's launch

Lithuania has no official information on the Astravyets nuclear power plant's planned launch on...

10 new coronavirus cases

On Tuesday 10 new COVID-19 cases were recorded in Lithuania. In total, the country has already...

Coronavirus-infected Franciscan monk dies

A coronavirus-infected Franciscan monk, 54, from the western coastal town of Kretinga died in Vilnius...

High-school graduates' English exam results best math results deteriorate (2)

High-school graduates in Lithuania have passed the state English language exam with the best...

|Maža didelių žinių kaina