Gas pipeline will not cost €700 million - Tonio Fenech
Muscat’s claim that the EU gas pipeline would cost €700 million and that EU funds would only pay for 10% of the cost is wrong, Minister for Finance the Economy and Investment Tonio Fenech stated.
A pipeline of 25” across 150 km would cost €290 million, the Minister explained. In the PL Electoral Manifesto, there is no mention of the PL energy project being completed within two years or a fixed gas price for ten years, he argued, "these promises have disappeared"..
The Minister mentioned the Prime Minister’s success in achieving over €1bn in EU funds, adding that €63 million of which has been allocated towards the gas pipeline. He stated that a KPMG study proved that the PL plan would raise taxes by 5%. Mr Fenech concluded that a 10-year fixed-price power-purchase agreement has yet to be found.
Mr Fenech concluded that the PL of never publishing the ‘costings’ for the PL energy plan.