Energy, EU – Baltic States, Gas, Latvia, Lithuania

Dalia Grybauskaitė and Andris Berzins at the underground gas storage facility in Incukalns, 13.06.2012. Photo: president.lt

"It is very important to create a really functioning gas market in the Baltics so that our people can pay competitive prices rather than the prices dictated by a monopolist. To this end, we have to look for new gas suppliers and exploit the capacities of the gas terminal in Klaipėda and the Incukalns storage facility which has potential to become a regional gas bank," the President said.

The President underlined that it was in the interest of Lithuania, which is building a liquefied natural gas terminal in Klaipėda, that the capacities of the Incukalns storage facility be increased. Yesterday, the Lithuanian Parliament approved the construction of the liquefied natural gas terminal in Klaipėda. During her visit in the Incukalns storage facility, the President was accompanied by Rokas Masiulis, managing director of Klaipėdos nafta which is implementing the LNG terminal project.

According to the President, the joining of the Incukalns gas storage facility and the LNG terminals planned to be developed in Lithuania and other Baltic countries and the reinforcement of pipeline connections will serve to create a regional gas market, which will ensure an alternative for expensive Russian gas and the competitive prices to the people, informs BC presidential press service.

The President said that Lietuvos dujos was already keeping in Incukalns a stock of around 40 million cubic meters of gas to satisfy, if necessary, the domestic consumer needs for 40 days, and after Lithuania's building a liquefied natural gas terminal and gas interconnection with Poland our interest in the potential of the Incukalns gas storage facility would further increase.