Baltics hope to reach agreement on creation of common LNG market next week

Pipes at the Inčukalns Underground Gas Storage Facility in Latvia.
Pipes at the Inčukalns Underground Gas Storage Facility in Latvia. Source: (Ints Kalniņš/Reuters/Scanpix)

The prime ministers of Estonia, Latvia and Lithuania are set to meet at the Inčukalns Underground Gas Storage Facility in Latvia next Friday, where they aim to reach an agreemnet on the creation of a common liquefied natural gas (LNG) market.

Deividas Matulionis, foreign policy adviser to Lithuanian Prime Minister Saulius Skvernelis, said that with an agreement on a common LNG market in place, the European Commission may open conversations on support to all three countries.

"Our objective is to talk and finally agree on the regional LNG market in order to have all the countries interested in this," said Matulionis. "We have our terminal, Estonians also have plans, there is also the Inčukalns facility."

Skvernelis, Prime Minister Jüri Ratas (Center) and Latvian Prime Minister Māris Kučinskis began touring key gas objects across the Baltics with a visit to the Tallinn port of Paldiski in May, followed by a visit to Klaipėda in June.

At the meeting in Klaipėda, the Lithuanian prime minister unexpectedly stated that Estonia could build a medium-sized terminal which would offer no competition to the LNG terminal in Klaipėda.

Matulionis noted that Lithuania's position had not changed and it still wanted to establish a common LNG market, which would feature the terminals in Lithuania and Estonia and the underground gas storage facility in Latvia. "The Inčukalns facility would supplement the market, as gas purchased at low prices in summer could be stored in Latvia until winter, which often sees higher prices," he said.

Editor: Aili Vahtla

Source: BNS

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