Energy, EU – Baltic States, Gas, Latvia, Lithuania
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Tuesday, 08.07.2025, 10:51
Lithuania puts underground gas storage project on hold

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"Given
that there is neither the need for such a storage facility nor the financial
resources, a rational decision was made to suspend the project and stop all
active steps regarding this project," Energy Minister Zygimantas Vaiciunas told reporters after the Cabinet's meeting on
Wednesday.
"This doesn't mean that we won't be able to
develop this project in the future," he added.
According to Vaiciunas, the main reason why Lithuania
does not need the Syderiai project, at least for now, is that it has access to
the Latvian facility.
"Given that Latvia has practically implemented
the (EU) third energy package and Lithuanian gas is practically stored in
Latvia's Incukalns facility, we see no major problems here," he said.
The minister said that the Syderiai project had
already cost around 8 million euros, with a third of the funds provided by the
European Union. The money was spent on various studies and land for the planned
storage facility.
It was estimated earlier that it would cost around
1701 million euros to build the facility and that another 140 million euros
would be needed for a 500-million-cubic-meter gas "cushion".