Latvia and Lithuania could go for joint purchases of American gas

Wednesday, 21 October 2015

On 16 October, the economy ministers of Latvia and Lithuania signed a memorandum of cooperation on the diversification of gas supplies, which foresees the two countries working together in speaking with potential gas suppliers, as well as joint purchases of gas.

Lithuanian Energy Minister Rokas Masiulis informed that Lithuanian energy company LitGas has already launched discussions with a US company on the supply of liquefied natural gas to Lithuania already from next year. Masiulis pointed out that Latvian colleagues are regularly updated on the progress of the talks, as Latvia too will be able to receive gas shipments from the United States.

As reported, the Saeima's Economic, Agricultural, Environmental and Regional Policy Committee decided earlier this week to submit to parliament the amendments to the Energy Law on the break-up of joint-stock Latvian gas company Latvijas Gaze, which could already be approved in the first reading next week.

Meanwhile, state joint stock power supply company Latvenergo announced in September it intends to purchase its first batch of liquefied natural gas from Lithuania already this year.

LETA also reported, Latvijas Gaze will have to become two legally-independent companies by 3 April 2017, of which one will be in charge of the gas transmission and storage system, and the other will be responsible for natural gas distribution and sale, according to amendments to the Energy Law that the government approved in September.

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