EU prioritizes energy grid project funds

The member-states of the European Union reached agreement this week on co-financing for energy infrastructure projects worth €647m, including €506.5m for six projects in the Baltic region, two of which are meant for Latvia, totaling €167.4m.

According to Economics Ministry deputy state secretary Jurijs Spiridonovs, the newly announced priorities will promote energy security across Europe and end the situation where individual nations, including the Baltic states, are like isolated islands unconnected to the EU’s primary grids.

Latvia’s role in the priorities includes two electricity delivery systems – the third-stage of the high-voltage power line ‘Kurzeme Arc’ (€55m) and the Latvia-Estonia third-stage power link (€112.3m).

The projects will increase the security of energy supplies in the Baltic region, diversify the sources of electricity and natural gas, and promote competition in the energy sector there.

Also on the list is the Polish-Lithuanian gas pipeline link and accompanying infrastructure, which is also significant to developing Latvia’s natural gas market beyond its dependence on Russian sources.

“Thus we can expect that by 2020 Latvia will have reached a level of energy independence to ensure stable supplies and the ability to prevent negative impacts from unexpected interruptions in its flow,” Spiridonovs said.

Further information about the EU’s energy priority projects has been published on the EC website.

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