Tallink Grupp receives funding for LNG-powered ferry
Published by Callum O'Reilly,
Senior Editor
LNG Industry,
The Port of Helsinki, the Port of Tallinn and AS Tallink Grupp have received €29.3 million EU funding within the 2014 CEF Transport Multi-Annual Calls for proposals for financing their infrastructure investments. The total cost of the planned investments is €97.6 million.
The CEF (Connecting Europe Facility) programme is a continuation of TEN-T, where the initial TWIN-PORT project was started. The follow-up project is called TWIN-PORT II. The development of the Helsinki-Tallinn maritime link as part of the TEN-T North Sea- Baltic core corridor has a vital importance as it connects the northern parts of Europe with southern TEN-T corridors.
The Port of Helsinki will receive €19.2 million to develop traffic and port facilities related to Helsinki-Tallinn line traffic, while the Port of Tallinn will receive €5.3 million to develop several activities in the Old City Harbour. AS Tallink Grupp will receive €4.8 million to be allocated to the new LNG-powered ferry, which will serve the Helsinki-Tallinn line starting from 2017. The ship will cost €230 million and the investment under TWIN-PORT II is €16 million.
Janek Stalmeister, Chairman of the Management Board, AS Tallink Grupp, said: “The new LNG-powered fast ferry will bring swift environment friendly operations to the busy Tallinn-Helsinki route. We are happy to see a successful collaboration between public and private companies that is supported by the European Union.”
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/13072015/tallink-grupp-receives-funding-for-lng-powered-ferry-1020/
You might also like
EIA: US natural gas trade will continue to grow with the start-up of new LNG export projects
The U.S. Energy Information Administration’s recently released Short-Term Energy Outlook forecasts that US LNG exports will continue to lead growth in US natural gas trade as three LNG export projects currently under construction start operations and ramp up to full production by the end of 2025.
