Energy, EU – Baltic States, Gas, Lithuania, Transport
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Friday, 29.03.2024, 10:55
Poyry analysis: Lithuania will need LNG terminal after 2024
"The
conclusions of independent consultants and the scenarios analyzed in the
initial phase of the study showed that the LNG terminal will yield obvious
benefit after 2024, as well," Aurelija
Vernickaite, spokeswoman for Lithuania's energy minister, told BNS.
In her words, a detailed analysis of cost and benefit
should be completed by the end of March 2018.
According to information available to BNS. Lithuania's
government intends to decide in 2018 to buy out the LNG vessel ahead of
schedule to reduce the maintenance costs for consumers.
The contract with Hoegh LNG envisages that the
vessel can be bought out in 10 years, i.e., in late 2024. In 2015, Lithuania
held talks with the Norwegian company on an earlier purchase date, however, the
company disagreed. Klaipedos Nafta (Klaipeda Oil) later intended to borrow 300
million euros from banks to buy out the vessel, however, the borrowing
procedures were suspended after the start of consultations with the European
Commission, Latvia and Estonia.
However, the three Baltic states failed to agree on a
regional LNG terminal by this fall, thus losing the possibility of securing
European support for buy-out of Independence.