26.05.2017

EU agency, Eustream signed Grant Agreement on Eastring feasibility study

European Union’s Innovation and Networks Executive Agency (INEA) and Eustream signed Agreement allowing Slovak TSO to receive EU grant for the feasibility study needed for the planned Eastring pipeline project. Feasibility study will be funded under the Connecting Europe Facility (CEF) with the sum up to one million eur, or 50 percent of the eligible costs. Grant Agreement entered into force in 12 May 2017.

Brussel/Bratislava, 26 May 2017 – European Union’s Innovation and Networks Executive Agency (INEA) and Eustream signed Agreement allowing Slovak TSO to receive EU grant for the feasibility study needed for the planned Eastring pipeline project. Feasibility study will be funded under the Connecting Europe Facility (CEF) with the sum up to one million eur, or 50 percent of the eligible costs. Grant Agreement entered into force in 12 May 2017.

European CEF coordination committee, composed of representatives of the 28 Member States, agreed to fund the feasibility study for the Eastring pipeline under the Connecting Europe Facility (CEF) on 17 February 2017. Grant award and the Agreement with INEA is an important milestone for the planned pipeline with the status of The Project of Common Interest for the EU (PCI list).

Eastring pipeline will serve as an interconnection between Western European liquid hubs and the Balkan region (an area with a potential to be a highly liquid region offering new natural gas sources from Caspian region/eastern Mediterranean/Middle East region). Project will enhance the security of supply for the Balkan region as well as for whole Europe by creating a new corridor for new natural gas sources, and will help to improve competition by enabling diversification of routes and sources. The feasibility study will define the technical details of the project including the possible routing options and will serve as basis for the final investment decision on the project. The grant application was submitted with support from TSOs from Hungary, Romania and Bulgaria (FGSZ Zrt., Transgaz S.A. and Bulgartransgaz EAD).

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