In exchange for guarantees on Incukalns gas storage capacity, Latvia will receive guarantees on supply capacity from Klaipeda LNG terminal

RIGA - In exchange for guarantees on capacity of Incukalns gas storage facility, Latvia will receive guarantees on supply capacity from Klaipeda liquefied natural gas terminal, said Economics Minister Janis Vitenbergs (National Alliance) after the extraordinary government meeting today.

Such an agreement has been reached by Vitenbergs and Lithuanian Energy Minister Dainius Kreivys.

"There is good cooperation. In the current situation we understand the situation equally, and we can cooperate and use the infrastructure of both countries. In our case, Latvia has the Incukalns gas storage facility, Lithuania has LNG terminal vessel. There is an agreement and understanding that we should cooperate in order to become independent in the energy sector," the minister said.

As reported, the government has reached an agreement on buying additional two terawatt hours (TWh) of natural gas to ensure the security of power generation in 2022 and 2023. The Ministries of Economy and Finance have promised to prepare a practical solution for the gas purchase by the next government meeting.