Energy minister attended Economic Forum in Krynica

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2017 09 11

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On September 6-7, the Minister of Energy Žygimantas Vaičiūnas participated in the 27th Economic Forum in Krynica (Poland). Mr Vaičiūnas together the Polish minister of energy took part in a discussion addressing key energy challenges in the region.  

The Lithuanian minister pointed out that Lithuania and the whole Baltic region have made a significant progress in strengthening their energy security. The launch of the LNG terminal in Klaipėda and power interconnections with Poland and Sweden increased the safety of the region’s energy sector, enhanced its competitiveness, and contributed to its integration in the global market.

The Lithuanian minister stated that such energy projects as the Nord Stream 2 gas pipeline and a nuclear power plant in Astravyets, the construction of which is financed by Russia, undermines the objectives of the Energy Union which is being created by the European Union. These objectives include the strengthening of energy security, the diversification of energy sources, and enhancing competition.

“We face a paradox:  although the Nord Stream 2 project contradicts the EU objectives, the European Union does not have efficient measures to intercept such projects. The lesson of the Nord Stream has not been learned when the instruments of the Energy Union were developed. In order to avoid the repletion of the similar situation in the electricity sector in the future we need already now to discuss and create practical and effective instruments which would enable us to protect the EU internal energy market in the future. The current moment, when the electricity market package is under consideration, is the most suitable for turning the  principle of competitive level playing field into practical EU  instruments,“ says Mr Vaičiūnas.

Lithuania aims to ensure a competitive level playing field in energy trade with third countries – the third countries seeking to sell electricity in the EU market must be required that their electricity is generated in compliance with the same requirements as those applied in the EU.

The Economic Forum in Krynica, which has been held since 1992, is attended by the politicians and business leaders of Central and Eastern Europe. This forum is one of the major economic events in the region.