Energy, Forum, Gas, Legislation, Lithuania

From now on gas price will be established based on economical and not political motives.

People are already benefiting from these changes. "The terminal has drawn a line that gas prices cannot cross," said the minister.

The National Commission for Energy Control and Prices (VKEKK) is still conducting calculations, but the Energy Ministry's figures already show that in 2015 gas price in Lithuania will be lower than this year.

Minister of Energy Masiulis also noted the importance of ensuring energy security. One of the recent changes is the opening of the LNG terminal in Klaipeda, which lays a path for the Baltic Sea region to withstand possible supply disruptions of energy resources. "I am sure that the launch of the LNG terminal is an important step not only for Lithuania, but for Latvia, Estonia and Finland, towards energy security," said the energy minister.

As reported, the National Commission for Energy Control and Prices (VKEKK) has established prices for services to be provided by the Liquefied Natural Gas (LNG) terminal in 2015. The Commission has ascertained that in the nearest future gas price will decrease and cost of heat generated using gas will not rise.

The VKEKK confirmed that the LNG terminal's maintenance cost (the so called additional security component) will stand at LTL 7.41 (EUR 2.15) per megawatt hour in 2015, after the compensation to consumers is applied. The rate is lower by more than LTL 2 (EUR 0.58) than the one set previously.

The tariff was reduced after using LTL 100 million (EUR 28.9 million) saved on the terminal's construction. The Government decided that this amount collected throughout 2013 will be distributed as compensation in the next two years.

The VKEKK also established LNG transhipment tariff – EUR 1.14 per megawatt hour. Income received from these activities will also reduce the security component to Lithuania's consumers.