(Reuters) An underwater pipeline set to carry green hydrogen between Spain and France will cost about 2.5 billion euros ($2.6 billion), Spanish Prime Minister Pedro Sanchez said, adding he hoped the European Union would partly fund the project.
The pipeline between Barcelona and Marseille will have a capacity of 2 million tonnes a year and be ready by the end of the decade, Sanchez said at a summit of Mediterranean European Union leaders in the southeastern Spanish port city of Alicante.
Reuters reported earlier that the undersea part of the 455-kilometer (280-mile) pipeline would cost around 2 billion euros, rising to 3 billion depending on its route.
An additional pipeline connecting Spain and Portugal will cost 350 million euros, according to a document provided by Spain.
The decision to pursue the project comes as an energy crisis caused by the war in Ukraine…