On the 8th of July, 2016, the Connecting Europe Facility (CEF, part of the EU financing program) Coordination Committee approved the financial support of €15 million for the joint project ‘Blue Baltic’”, which expands liquefied natural gas (LNG) bunkering network across the Baltic Sea.
The EU support is dedicated to five companies including SC Klaipedos nafta (the company). The company should receive approximately €4 million of the total EU funds.
’Blue Baltics’ comprises a series of investments, including one in an LNG mobile facility for the bunkering of LNG ships in Lithuania, Sweden, Estonia and Germany. Furthermore, the investment will go towards an upgrade of an LNG infrastructure in Klaipeda, the expansion of an LNG fuelling infrastructure in Estonia and the upgrade of an LNG distribution terminal in Sweden, also, a bunkering vessel in Germany will be implemented during the project.
The foreseen accomplishment of the project has been projected by the end of 2Q19.
The company has already received €6 million of EU support in 2015 for construction works of the LNG reloading station and €0.15 million of EU support in 2014 for LNG reloading station FEED and other preparation works.
Adapted from press release by Francesca Brindle
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/13072016/cef-approves-blue-baltics-15-million-euros-funding-3698/