Baltic States – CIS, Energy, EU – Baltic States, Forum, Gas, Lithuania

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"Lithuania could serve as a good example for Croatia showing that political will and determination may bring big changes: not long ago Lithuania used to import 100% of oil and gas from Russia and about 60% of electric energy from outside the EU (Belarus and Russia). Now the situation has changed - the Lithuanian energy sector has become more stable, secure and vigorous," Masiulis said at the energy forum.

Lithuanian energy minister stressed that a few years ago Lithuania was charged the highest gas price in Europe. The decision to reverse this situation proved to be more beneficial than expected: once Lithuania launched a liquefied natural gas (LNG) terminal, Gazprom which used to dominate the gas market cut the price of gas by more than 20%. This cut compensated for the cost of the LNG project immediately.

"LNG terminals not only play an important role in ensuring energy security but also create extra business opportunities. For example, by the end of this year Lithuania plans to build an inland LNG distribution terminal in Klaipeda. It will make possible for LNG to be delivered by gas trucks to other Lithuanian cities and neighbouring countries.

LNG can also be used in public transport. The experience of other countries shows that gas-powered buses generate fuel cost savings of 30% compared with diesel-fuelled buses. Not only Lithuanian customers are interested in purchasing gas from the Klaipeda LNG terminal. Customers from neighbouring countries are also interested," he pointed out.

The lessons that Lithuania has learned could also be useful for Croatia as the country seeks to become a gas distribution hub of the region. By 2019, Croatia plans to build a LNG terminal in the island of Krk. This terminal is included in the list of EU strategic projects. Moreover, the Lithuanian oil company Klaipedos Nafta is sharing its experience with a Columbian company which intends to build a LNG terminal similar to the Klaipeda LNG terminal.

At a bilateral meeting with Croatian Economy Minister Ivan Vrdoljak, Masiulis presented Lithuania's experience in building and operating a LNG terminal, the current situation in the Lithuanian energy sector including the key problems that were recently solved and projects aimed at enhancing energy security in the region. Lithuanian energy minister was also interested in Croatia's experience in operating the Krsko nuclear power plant together with Slovenia. "This is a field in which Lithuania may benefit from Croatia's experience," stated Masiulis.

During his visit, the Lithuanian energy minister took part in the official meetings of Lithuanian President Dalia Grybauskaite with Croatian President Kolinda Grabar-Kitarovic and Prime Minister Zoran Milanovic.