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LNG terminal attracts interest

  • 2010-12-16
  • From wire reports

RIGA - Four countries are currently competing for the chance to build a liquefied natural gas (LNG) terminal to be located in the Baltics, says Itera Latvia CEO Juris Savickis in an interview on Latvian Radio, reports news agency LETA. These countries are: Latvia, Lithuania, Estonia and Finland. Savickis mentioned that Estonia and Finland are planning to join forces on this project, while Lithuania has announced that it will build the terminal even without the support of the European Union.

Latvia is also interested in this project, and the suggestion of Economy Minister Artis Kampars to build one LNG terminal in Riga for the whole region, a project where all interested countries would cooperate in attracting private capital, is a good idea.

Savickis said that liquefied gas would be supplied by Qatar and Nigeria since Gazprom is not producing it at the moment.
A European Commission task force is evaluating the possibility of a joint approach and cooperation to build the LNG terminal, which would benefit the eastern countries of the Baltic Sea region - Lithuania, Latvia, Estonia and Finland. The current projects of Finland, Estonia and Latvia were presented and discussed at the task force’s meeting on Sept. 24.
The representatives of each state emphasized the importance and central position of their countries in the region - according to the consumption of gas, geographic location or already existing interconnections.

Liquefied gas has high potential and Latvia holds strategic advantages when it comes to building a terminal, said State Secretary of the Ministry of Economy Juris Puce.
Savickis pointed out that project expenses can add up to 500 million euros, adding that he is ready to invest his own money as well but hopes for the funding from the European Commission. Puce admitted that also Estonia and Lithuania are interested in building an LNG terminal, and that this could serve as a step towards a combined energy network market.