Baltic States – CIS, Energy, Gas, Legislation, Lithuania

Minister of Energy Arvydas Sekmokas, who has presented the project, drew everyone's attention to the fact that the Lithuanian natural gas sector is especially problematic because the only source of natural gas for the Lithuanian market is the gas transported via Belarus from Russian Gazprom. According to Sekmokas, Lithuania pays for gas more than those European countries that are located further than Lithuania, writes LETA/ELTA.

Sekmokas is certain that the LNG terminal will provide preconditions for natural gas market to get developed and for gas prices based on economy for all the consumers to be set.

"When comparing current liquefied natural gas prices and prices of gas supplied by Gazprom, we see that LNG prices are, undoubtedly, competitive – acquiring 2 billion cubic metres of natural gas via LNG terminal, including transportation and costs of gasification, would let us save around LTL 250 million (EUR 71.6 million) per year. Moreover, this new alternative should urge the current monopolist to reduce also the price of gas supplied via pipelines," Sekmokas said.

It is expected to set the LNG terminal and create infrastructure ensuring natural gas effectiveness.

It is planned to build and launch the terminal until December, 2014.