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9/27, 2:05 PM (Source: TeleTrader)
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EU announces launch of Baltic Pipe

The European Commission announced on Tuesday that the Baltic Pipe was inaugurated at a launch ceremony in Poland and is planned to begin gas transmission from October 1.

"The Baltic Pipe is a key project for the security of supply of the region and the result of an EU policy drive to diversify sources of gas. The pipeline will play a valuable role in mitigating the current energy crisis," European Commissioner for Energy Kadri Simson (pictured) stated. The Commission noted the pipe will enable the import of up to 10 billion cubic meters (bcm) of gas per year from Norway to Poland and carry 3 bcm of gas from Poland to Denmark.

The project's launch comes amid the European Union's attempts to end its dependency on Russian gas as tensions with Moscow continue to grow due to the war in Ukraine.

Baha Breaking News (BBN) / NP