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Completing Europe - From the North South Corridor to Energy, Transportation and Telecommunications Union

Completing Europe - From the North South Corridor to Energy, Transportation and Telecommunications Union

According to the study, Completing Europe – From the North-South Corridor to Energy, Transportation and Telecommunications Union, the Corridor would establish a powerful set of economic arteries, including energy pipelines and power lines, highways and railways, and telecommunication links extending from Poland’s Baltic coast through the Czech Republic, Slovakia, and Hungary, and to the coast of Croatia. This would largely improve the EU's economic integration and energy security, as LNG terminals and their networks of gas and oil lines and electricity grids would diversify the sources of energy for all Central European states.

Completion of the North-South Corridor also represents an opportunity to increase competitiveness and resilience, providing infrastructure that will enable Europe to compete more effectively in the global economy . Furthermore, raising infrastructure-investment rates along the axis of the corridor provides an effective stimulus to economic growth. Thus, the process of corridor development represents an important contribution to solving Europe’s current macroeconomic, fiscal, and monetary challenges, which include issues of competitiveness, the risk of deflation, high unemployment, and increasingly sensitive intra-EU migration trends.

The report underlines that the North-South Corridor should be approached holistically, guided by a vision that integrates gas and oil pipelines – including the critical development of the Backbone Gas Pipeline between Świnoujście (Poland) and the Krk Island (Croatia) – and infrastructure, electricity interconnections, rail and road networks, and telecommunications investments. The total costs of the projects identified in this report as being strategically important and critical to the completion of the Corridor amount to an estimated €50.5 billion (€27 billion for energy, €20 billion for transport and €3.5 billion for telecommunications). These figures are only a small portion of the enormous infrastructure investment needs up to 2020, in the range of €1.5-2 trillion (or an average of €150-200 billion annually), as outlined by the European Commission in 2011.