A transition from point-to-point HVDC links to multiterminal systems can save much investment cost, since the number of converter stations can be reduced. In addition, security of supply is improved since power can be routed in alternative paths in case of a converter or cable fault. Grid losses and unavailability are reduced as power flows through fewer converters. Finally, using fewer converters also reduces the environmental and visual impact as well as the planning and permitting issues. The equipment required for implementing multiterminal HVDC networks is rapidly gaining technical maturity. Several feasible solutions for DC circuit breakers (DCCBs) exist and have been demonstrated. Standardisation and testing of the DCCBs has evolved greatly. Furthermore, the development of controland protection methods for multiterminal systems has taken great strides recently. Still, however, the actual deployment of multiterminal or meshed HVDC systems has been almost non-existent outside China. The main reason is that HVDC operators wanting to benefit from multiterminal HVDC systemsface a vicious circle: practical experience in multiterminal HVDC is lacking, but cannot be gained because of the risks associated with a deployment when there is insufficient experience. The question is, therefore, how the risks can be mitigated. This paper proposes to create a direct DC connection between two existing, or planned, point-to-point HVDC links which both terminate in the same location. A particular case, involving the two links the SouthWest Link in Sweden, and the Hansa Power Bridge, linking Sweden and Germany, is studied in detail. By the proposed methodology, multiterminal operation and protection aspects can be verified at full scale at minimum risk. In the unlikely event that multiterminal operation cannot be achieved it is always possible to operate the links as point-to-point, i.e., as initially intended. The paper investigates several aspects of the proposed DC connection. First, a technical analysis looks into the load-flow and protection aspects. Notably, the combined system differs from multiterminal systems studied in literature in that there are several converters at the middle node and that both point-to-point and multiterminal operation should be possible. Load flow is managed by a power and voltage droop control of the converter stations. For protection, DCCBs will be employed in the DC connection, to ensure unimpeded operation of one of the links in case of a fault on the other link. The study considers two different types of DCCBs: hybrid and mechanical. These differ in terms of cost and speed ofoperation. A multitude of simulations verifies the function of the protection scheme. Furthermore, a detailed cost-benefit analysis (CBA) looks into the economic aspects of the DCconnection. Apart from the CAPEX and the running cost, the CBA indicates the substantial saving resulting from avoiding converter losses for power routed directly between the end nodes. Moreover, an expected improvement in availability of the overall link is shown. Several scenarios with regard to the power flows are evaluated. In addition, the socioeconomic welfare gain and the redispatch savings are considered. The mentioned cost savings could make the DC connection profitable. Finally, the legal and regulatory aspects of the DC connection are also evaluated considering that eventhough the DC connection will be located on Swedish territory it would also influence socioeconomic welfare in Germany.