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Tuesday 26.09.2017 | Name days: Kurts, Knuts, Gundars
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Finland could take away LNG terminal from Baltic States

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There is a high probability that the liquefied natural gas (LNG) terminal will not be constructed in any one of three Baltic States, but in Finland instead, Dienas Bizness writes with reference to sources in the gas industry.

After his meeting with leaders of Nordic and Baltic countries, PM Valdis Dombrovskis also said that the project worth 500 million EUR could be realized outside of the three Baltic States.

“We should not despair and say we have lost something, even though we never did. Right now, those are only speculations,” – Economy Minister Daniels Pavluts commented the situation.

He noted that Finland has become active in this project. “What is important in this situation – that we will have access to natural gas at a competitive price. This will allow us to create a functional alternative gas market. Even if it does not provide consumers a lower price, it will put an end to the dependence on one gas provide,” – Pavluts said. According to the minister, during the time of the previous Economy Minister Artis Kampars, society acquired the belief that this project is practically in Latvia’s pocket – those were baseless hopes.

The head of Itera Latvija Juris Savickis believes that if one of Latvia’s neighbours is preferred, Latvia could oppose this in the European Commission, but Finland is in a different league.

“We could not defend our interests in Brussels. But it will not be a tragedy if the terminal is not built in Latvia, because, as I said before, LNG is 15-20% more expensive than regular gas. Imagine we have the terminal. Parallel to it we will need to have contracts for gas supply for 10-15 years. However, if Gazprom would decide to lower the prices on regular gas for this period, what would we do? We would buy the more expensive LNG in spite of the fact that Russian gas is cheaper,” – Savickis explained his opinion.

Energy expert Juris Ozolins believes it is not worth crying over every lost infrastructure project. “Latvian consumers should have an opportunity to reach an agreement with LNG suppliers regardless of the location of the terminal. Seeing as though this project was discussed with a portion of precaution in Latvia, the construction of a terminal here for EU funds seems problematic. In the end, the appearance of a terminal for LNG is only a question of time – marine and land transports will start using it in regard to ecology.”

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