Finland to decide on underwater atomic energy export from Russia in 2005

Publish date: October 8, 2004

According to Business St Petersburg daily, the Finnish Ministry of Trade and Industry received a declaration of intent from company United Energy Oy concerning installation of underwater cable from Leningrad region to Kotka, Finland.

The price-tag of the project is over $200m. The Finnish government will give the final answer to this investment offer not before 2005. The main stockholder of the United Energy Oy is the Russian company Baltenergo, which according to the Chief Counsellor of the Finnish Ministry of Trade and Industry Arto Rajala belongs to the Rosenergoatom concern and the Finnish company Kotkan Energia. The representatives of Kotkan Energia said they would not invest in the project itself but they could provide the infrastructure for the energy reception in Finland and its further transfer to the Scandinavian energy system.

The length of the cable is estimated about 150 km. The Finnish bureaucrats are not sure if this project is necessary. Arto Rajala said the biggest concerns are about the capacity of the Finnish energy system, which should additionally consume so much extra energy. It is not clear what consequences this project can cause to the Finnish and Scandinavian energy system as well as environment, Business St Petersburg reports.

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