RWE believes that it will give new impetus to the European energy market with the construction of a gas pipeline between the Czech Republic and Belgium, in conjunction with its previously announced additional power plant capacities in the UK.
We are increasing the liquidity in the gas market and expanding our package of electricity on offer to meet the high demand for energy, said Harry Roels, CEO of RWE AG. This will strengthen competition in Europe.
More than E2 billion is to be invested in these two projects. They are part of the RWE’s E15 million investment program planned until 2012.
The gas pipeline will begin in Sayda on the Czech border. It will pass through Werne in Germany and is to be connected to the Belgian system in the Aachen area. The pipeline will form a direct link between the Czech and the German gas transport grids of RWE Energy.
According to the German utility, the planned pipeline offers optimum conditions for end providers in Germany, UK and the Benelux countries to purchase additional volumes of gas from Russia, the Near East, the Middle East and Egypt.
The E1 billion link is scheduled to come on-stream in autumn 2011 and should transport an annual volume of five billion cubic meters of gas.