(AA) – Lithuania’s new LNG terminal will be a catalyst for change in the monopolistic market of the Baltic States’ gas sector while fostering closer relations between neighbors, said Lithuanian Energy Minister on Monday.
Lithuania in a bid to diversify its natural gas sources and to become energy-independent from Russia, will import two to three billion cubic meters of natural gas from Norway into the country’s new LNG terminal located in the country’s third most populated city of Klaipeda. In 2013, Lithuania consumed 2.7 billion cubic meters of natural gas – all of it imported from Russia.
“The LNG terminal is now ready to meet the gas demand of Lithuania. We have made a big step towards our energy independence when the floating storage and regasification unit “Independence” sailed into the port of Klaipeda. Gas imported via the LNG terminal can be used to produce electricity as well,” Energy Minister Rokas Masiulis said.
In addition, Lithuania is making further headway in diversifying its gas needs. The country has secured the necessary EU financial support for the construction of bi-directional gas interconnection between Poland and Lithuania. Masiulis also said that Lithuania is currently analyzing possibilities of building a regional underground gas storage facility in the country.
According to Masiulis, the LNG terminal allows the country to have more than one supplier of gas. He explained that the main goal is not to replace one country with another referring to Norway replacing Russia’s supply, and said, “We want to ensure alternative sources of gas supply which will result in competitive gas prices for gas consumers.”
Masiulis, in an interview with The Anadolu Agency, said that two ongoing projects will add more alternatives to the electricity supply. The electricity interconnection projects with Poland “LitPol Link” and Sweden “NordBalt” will be finalized by the end of next year.
Rokas Masiulis, the former head of Lithuanian national oil company Klaipedos Nafta became the country’s new energy minister in September and explained his ambitions:
“When I worked as a CEO, my plans were to create conditions which would allow Lithuanians and companies to buy energy at competitive, reasonable prices and ensure reliable, secure supply of energy. These are the two main goals of energy independence,” he said.
