Damaged Finland-Estonia undersea cable expected back in operation by mid-July
HELSINKI, April 16 (Reuters) - Repair work on the damaged subsea power line EstLink 2 that runs between Finland and Estonia will start in May and is expected to return to commercial use on July 15, Finnish power grid operator Fingrid said on Wednesday.
Finnish authorities in December seized a ship carrying Russian oil in the Baltic Sea on suspicion it caused the outage of the undersea power cable as well as four internet lines.
The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.
Fingrid said in a statement on Wednesday that a new cable was being installed on the seabed to replace the existing one over a distance of around one kilometer (0.62 miles).
"Implementing such extensive repair work has required detailed planning and necessitates a specially equipped vessel for the task," the operator said, adding that the work was being carried out by Nexans (NEXS.PA), opens new tab.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Leader Live
37 minutes ago
- Leader Live
Centrica strikes £20 billion gas supply deal with Equinor
The firms said the new deal will see Centrica take delivery of five billion cubic metres of gas per year up to 2035. Chris O'Shea, boss of Centrica, said the deal ensures an improvement in UK energy security and stressed that the business is working with the Government to build further gas storage. It comes ahead of a speech from the boss of the Confederation of British Industry, who is calling on the Government to come up with a 'serious plan' to cut energy costs and invest in energy security. Rain Newton-Smith, chief executive of the business group, will say that Britain must address soaring energy tariffs as firms struggle under the weight of crippling power bills on top of tax and wage hikes, in a speech later on Thursday. Around half of all UK gas was imported from Norway last year, after a recent increase in demand following the Russian invasion of Ukraine. Centrica added that the contract will also call for natural gas sales to be replaced with hydrogen in the future. Mr O'Shea said: 'Equinor is a valued partner and this landmark agreement underscores the vital role that natural gas plays as a transition fuel as we navigate towards a low carbon energy future. 'Over the last few years, we've seen first-hand how important energy security is. 'Today's deal not only ensures the UK's energy security has improved but also paves the way for a burgeoning hydrogen market. 'The deal represents a significant investment in the UK's future, showing that Centrica will make bold investments that drive forward the energy transition while delivering value for our shareholders.' Equinor's president and chief executive Anders Opedal said: 'For nearly 50 years, we have supported the UK's energy security with reliable gas supplies. 'In addition, we have advanced offshore wind and pioneered decarbonisation solutions. 'We are pleased to strengthen the energy partnership further through a new gas sales agreement with our longstanding customer and partner Centrica.'
Leader Live
37 minutes ago
- Leader Live
Nato set to approve new military purchases as part of a defence spending hike
The 'capability targets' lay out goals for each of the 32 nations to purchase priority equipment such as air defence systems, long-range missiles, artillery, ammunition, drones and 'strategic enablers' such as air-to-air refuelling, heavy air transport and logistics. Each nation's plan is classified, so details are scarce. 'Today we decide on the capability targets. From there, we will assess the gaps we have, not only to be able to defend ourselves today, but also three, five, seven years from now,' Nato Secretary-General Mark Rutte said. 'All these investments have to be financed,' he told reporters before chairing the meeting at Nato's Brussels headquarters. US President Donald Trump and his Nato counterparts will meet on June 24-25 to agree to new defence investment goals. US defence secretary Pete Hegseth said that 'to be an alliance, you've got to be more than flags. You got to be more than conferences. You need to keep combat ready capabilities'. Spurred on by their own security concerns, European allies and Canada have already been ramping up military spending, including arms and ammunition purchases, since Russia launched a full-scale invasion of Ukraine in 2022. At the same time, some allies balk at US demands to invest 5% of their gross domestic product in defence – 3.5% on core military spending and 1.5% on the roads, bridges, airfields and sea ports needed to deploy armies more quickly – when they have already struggled to grow their budgets to 2% of GDP. The new targets are assigned by Nato based on a blueprint agreed upon in 2023 – the military organisation's biggest planning shake-up since the Cold War — to defend its territory from an attack by Russia or another major adversary. Under those plans, Nato would aim to have up to 300,000 troops ready to move to its eastern flank within 30 days, although experts suggest the allies would struggle to muster those kinds of numbers. The member countries are assigned roles in defending Nato territory across three major zones – the high north and Atlantic area, a zone north of the Alps, and another in southern Europe. Nato planners believe that the targets must be met within five to 10 years, given the speed at which Russia is building its armed forces now, and which would accelerate were any peace agreement reached to end its war on Ukraine. Some fear Russia might be ready to strike at a Nato country even sooner, especially if Western sanctions are eased and Europe has not prepared. 'Are we going to gather here again and say 'OK, we failed a bit', and then maybe we start learning Russian?' Lithuanian Defence Minister Dovile Sakaliene said. Swedish Defence Minister Pal Jonson also warned that while Russia is bogged down in Ukraine right now, things could quickly change. 'We also know after an armistice or a peace agreement, of course, Russia is going to allocate more forces closer to our vicinity. Therefore, it's extremely important that the alliance use these couple of years now when Russia is still limited by its force posture in and around Ukraine,' Mr Jonson said. If the targets are respected, the member countries will need to spend at least 3% of GDP on defence. Dutch Defense Minister Ruben Brekelmans said his country calculates in the medium term that 'we should spend 3.5% at least on defence, which in the Netherlands means an additional 16 to 19 billion euro (£13-16 billion) addition to our current budget.' The Netherlands is likely to buy more tanks, infantry fighting vehicles and long-range missile systems, including US-made Patriots that can target aircraft, cruise missiles and shorter-range ballistic missiles.
South Wales Guardian
40 minutes ago
- South Wales Guardian
Centrica strikes £20 billion gas supply deal with Equinor
The firms said the new deal will see Centrica take delivery of five billion cubic metres of gas per year up to 2035. Chris O'Shea, boss of Centrica, said the deal ensures an improvement in UK energy security and stressed that the business is working with the Government to build further gas storage. It comes ahead of a speech from the boss of the Confederation of British Industry, who is calling on the Government to come up with a 'serious plan' to cut energy costs and invest in energy security. Rain Newton-Smith, chief executive of the business group, will say that Britain must address soaring energy tariffs as firms struggle under the weight of crippling power bills on top of tax and wage hikes, in a speech later on Thursday. Around half of all UK gas was imported from Norway last year, after a recent increase in demand following the Russian invasion of Ukraine. Centrica added that the contract will also call for natural gas sales to be replaced with hydrogen in the future. Mr O'Shea said: 'Equinor is a valued partner and this landmark agreement underscores the vital role that natural gas plays as a transition fuel as we navigate towards a low carbon energy future. 'Over the last few years, we've seen first-hand how important energy security is. 'Today's deal not only ensures the UK's energy security has improved but also paves the way for a burgeoning hydrogen market. 'The deal represents a significant investment in the UK's future, showing that Centrica will make bold investments that drive forward the energy transition while delivering value for our shareholders.' Equinor's president and chief executive Anders Opedal said: 'For nearly 50 years, we have supported the UK's energy security with reliable gas supplies. 'In addition, we have advanced offshore wind and pioneered decarbonisation solutions. 'We are pleased to strengthen the energy partnership further through a new gas sales agreement with our longstanding customer and partner Centrica.'
