LNG terminal will get 448 million euro boost

The European Commission (EC) will pour 448 million euros into the construction of the Liquid Natural Gas (LNG) terminal in Lithuania, reports LETA.

The project is aimed at the development of a safe gas supply in Lithuania incorporating the new supply resources.

According to the EC, the aid for the construction and the exploitation of the LNG terminal in Klaipeda Seaport met the requirements of EU State Aid. The commission said that the aid was to help to achieve the EU energy objectives without the distortion of competitiveness because, as soon as the LNG terminal is built in Lithuania, the country would be able to integrate into the EU gas market.

“Due to this aid, Lithuania’s dependence on an only gas supplier [Gazprom] will be reduced,” said Deputy President of the European Commission and Commissioner for Competition Joaquin Almunia.

Lithuanian officials have confirmed that they want to move away from Russian gas supplies and believe the LNG terminal will allow them to do this.