Energy Market, Gas, Good for Business, Lithuania
International Internet Magazine. Baltic States news & analytics
Thursday, 25.04.2024, 10:31
Lithuania to purchase LNG terminal's ship – commission
Long-term
borrowing from banks by Klaipedos Nafta,
the LNG terminal's operator, will help reduce the terminal's costs for users,
particularly the fertilizer manufacturer Achema,
the energy producer Lietuvos Energijos
Gamyba (LEG) and other large energy producers.
In the
commission's opinion, this is the most economically advantageous and
strategically sustainable option for Lithuania, the government said.
"Given
Lithuania's need for securing long-term LNG supply in the future, both for its
energy security and competitive prices, we chose the option that provides
the greatest economic effect and is strategically the most sustainable in the
long term," Energy Minister Zygimantas
Vaiciunas said.
"Lithuania
will retain access to international LNG markets, while at the same time
having the greatest flexibility and the ability to swiftly respond to the
changing market situation in the future," he said.
A long-term
lease of the FSRU was the other option considered by the commission.
It is
proposed to spread the terminal's costs for users over a longer period of
time, which will help reduce these costs by at least 23 mln euros – from 66 mln
to 43 mln euros – annually starting in 2019, the government said.
Estimates
of the FSRU purchase price range between 121 mln and 160 mln euros, but
the exact price set in the contract with the Norwegian
company is confidential.