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Saturday 24.03.2018 | Name days: Kazimirs, Izidors

Gazprom and Itera not willing to abandon Incukalns gas storage

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Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RULatvia state-owned Incukalns Underground Gas Storage should remain in the use of AS Latvijas gāze, while if the state wants to regain its rights for the property, it will have to pay the gas company a huge compensation, AAS Gazprom representative in Latvia Jevgeņijs Roldugins and Itera Latvija Board Chairman, also AS Latvijas gāze deputy Board Chairman Juris Savickis told the broadcast Nekā personīga.

In 1997, Latvia transferred Incukalns gas storage in the management of AS Latvijas gāze for 20 years period and only with a symbolic rent.

According to Savickis, Latvijas gāze owners have invested much money during these 14 years, thus if the state is not willing to extend the company’s right to manage the gas storage also after 2017, it should grant Latvijas gāze owners compensation of 600 million lats.

However, Latvia Economy Minister Artis Kampars argues, pointing out these investments should be regarded as expenditure, moreover, the gas company was never promised extension of the license also after it expires.

Latvia needs Incukalns gas storage to carry out liquefied natural gas terminal project. Other Baltic states have indicated they will not collaborate if the terminal construction is tied to Latvijas gāze co-owner Gazprom.

Gazprom representative in Latvia Jevgeņijs Roldugins says the company is ready to collaborate in the project if the quality of the gas meets the standards of Latvijas gāze.

AS Latvijas gāze has concluded agreements with Gazprom on natural gas storage in Inculkans by 2030.


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