Date: 4 weeks ago   Category: Energy

The prime minister of Lithuania has told about a way to constrain the prices of the Russian gas — Rambler News Service


The repayment by the government of Lithuania of floating storage of the Independence liquefied natural gas (LNG) will allow to contain increase in prices for the Russian gas in Klaipeda, the prime minister of Lithuania Saulyus Skvernyalis has said. "Today we don't estimate a circumstance of acquisition of the vessel storage LNG, the size and rationality of the price. These decisions have been made much earlier, and we can't change them. Today it is important to maximize power independence of Lithuania and to cut expenses on natural gas for the population" — Skvernyalis whose words are cited by the press service of the government of the country has told. As notes the government of Lithuania, the government commission suggests to provide long-term import of the liquefied natural gas (LNG) by making decision on acquisition of the LNG terminal in 2024. According to the commission, it is the most economic and strategically steady option for Lithuania. It will provide competitive prices of gas and the lowest costs of maintenance of infrastructure of LNG in the short-term and long term. The commission has estimated two main alternatives: rent of the LNG terminal after 2024 and purchase of the terminal. The decision on acquisition of the LNG terminal is based on the technical and economic analysis of alternatives and the recommendations of independent international consultants. According to the research conducted by the international independent consultant of Pöyry Management Consulting, the LNG terminal after 2024 will remain the only and main tool of price pressure in hands of Lithuania. According to consultants, without ensuring long-term import of LNG will be insufficiently competitive pressure upon the price of the Russian gas. "The LNG terminal excludes risk that the supplier dominating in the region - Gazprom - will abuse the dominant position in the market and to unfairly increase gas prices for consumers. According to experts, the refusal of the LNG terminal will increase import prices of gas of Gazprom of 20%" — it is said in the statement.

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