Japan's Marubeni shows interest in LNG terminal project - Cudars

  • 2023-03-06
  • LETA/TBT Staff

RIGA - Japan's company Marubeni, One of the shareholders in natural gas transmission and storage system operator Conexus Baltic Grid (Conexus), has voiced interest in the liquefied natural gas (LNG) terminal project, said Climate and Energy Minister Raimonds Cudars (New Unity) in an interview with the Latvian public television today.

He said that the Climate and Energy Ministry currently is conducting preparatory work in relation to the government's task on LNG terminal in Skulte.

"We are currently speaking about a natural gas and power transmission company, partial engagement of government companies in this project. In this relation, there will be negotiations held also with one of Conexus shareholders," said Cudars.

He said that Japan's company Marubeni has demonstrated interest in participation in the project. "Negotiations will continue," he said.

"We see that potential of liquefied natural gas in the coming years is quite big. Development of such terminal in our region is very significant, adapting it later to transportation of hydrogen, which might be the main alternative to gas in the future," said the minister.

As reported, at the end of September 2022, the Saeima passed in the final reading a bill proposed by the government and the Economics Ministry that granted the status of national interest to an LNG terminal Latvia is planning to building in Skulte, its pipelines with the natural gas system and related buildings.