An electronically controlled fuel valve for injecting fuel into the combustion chamber of a large two-stroke diesel engine with cross-heads, said fuel valve comprising: a fuel valve housing, the foremost part of the fuel valve housing holds a nozzle that projects from the valve housing, said nozzle being provided with an axial bore, a closed front and nozzle holes, a fuel inlet port for connection to a source of high pressure fuel, a first duct connecting the high pressure fuel inlet port to the nozzle, and a resiliently biased and axially movable valve needle cooperating with a valve seat and configured to control the flow of fuel from the fuel inlet port to the nozzle, whereby lift of the axially movable valve needle allows flow from the fuel inlet port to the nozzle, characterized by a closing chamber in the fuel valve housing acting on the valve needle with a first effective surface area and urging the valve needle towards the valve seat when pressurized, an opening chamber in the fuel valve housing, said opening chamber being in fluid connection with said first duct to be pressurized by said source, the pressure in said opening chamber acts on the valve needle with a second effective surface area and urges the valve needle away from the valve seat, a control conduit directly connecting the closing chamber to a valve port of an electronically controlled pilot valve, said electronically controlled valve comprises a spool valve, said spool valve is provided with a valve port connected to a tank port and with a valve port connected to said fuel inlet port, said spool valve being configured to selectively connect said control conduit to said tank port or to said fuel inlet port for electronically controlling lift of the valve needle, wherein said spool valve is provided with a first pressure chamber acting on a spool and urging the spool to a position where said control conduit is connected to said fuel inlet port, and wherein said spool valve is provided with a second pressure chamber acting on the spool and urging the spool to a position where said control conduit is connected to said tank port wherein said first pressure chamber is provided with a first throttled connection to the fuel inlet port and with a second throttled connection to the tank port, wherein said second throttled connection to said tank port is less restricted than the first throttled connection to the fuel inlet port and wherein said fuel valve further comprises an electronically controlled solenoid valve for opening and closing said throttled connection to said tank port. a fuel valve housing, the foremost part of the fuel valve housing holds a nozzle that projects from the valve housing, said nozzle being provided with an axial bore, a closed front and nozzle holes, a fuel inlet port for connection to a source of high pressure fuel, a first duct connecting the high pressure fuel inlet port to the nozzle, and a resiliently biased and axially movable valve needle cooperating with a valve seat and configured to control the flow of fuel from the fuel inlet port to the nozzle, whereby lift of the axially movable valve needle allows flow from the fuel inlet port to the nozzle, characterized by a closing chamber in the fuel valve housing acting on the valve needle with a first effective surface area and urging the valve needle towards the valve seat when pressurized, an opening chamber in the fuel valve housing, said opening chamber being in fluid connection with said first duct to be pressurized by said source, the pressure in said opening chamber acts on the valve needle with a second effective surface area and urges the valve needle away from the valve seat, a control conduit directly connecting the closing chamber to a valve port of an electronically controlled pilot valve, said electronically controlled valve comprises a spool valve, said spool valve is provided with a valve port connected to a tank port and with a valve port connected to said fuel inlet port, said spool valve being configured to selectively connect said control conduit to said tank port or to said fuel inlet port for electronically controlling lift of the valve needle, wherein said spool valve is provided with a first pressure chamber acting on a spool and urging the spool to a position where said control conduit is connected to said fuel inlet port, and wherein said spool valve is provided with a second pressure chamber acting on the spool and urging the spool to a position where said control conduit is connected to said tank port wherein said first pressure chamber is provided with a first throttled connection to the fuel inlet port and with a second throttled connection to the tank port, wherein said second throttled connection to said tank port is less restricted than the first throttled connection to the fuel inlet port and wherein said fuel valve further comprises an electronically controlled solenoid valve for opening and closing said throttled connection to said tank port.