Minister of Energy presents investment opportunities in Lithuania’s energy sector to Japanese business

Date

2019 11 19

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Minister of Energy Žygimantas Vaičiūnas met with representatives from the Keidanren Japan Business Federation, which unites over 1,600 Japanese industrial companies. During the meeting, Lithuania’s strategic energy projects were presented, and opportunities for cooperation with Japan in their implementation were discussed.

According to Minister of Energy Žygimantas Vaičiūnas, energy cooperation between Lithuania and Japan is important and significant for both countries, and projects such as synchronisation of the electricity network with the continental European grid, closure of the Ignalina Nuclear Power Plant (Ignalina NPP), and rapid development of renewable energy offer great potential for bilateral relations.

Practical examples of partnership already exist – the electricity transmission system operators of Lithuania, Latvia and Estonia will join forces with Japanese transmission system operator Tepco to conduct a joint feasibility study related to the implementation of certain technical solutions in synchronisation of the Baltic electrical grids with Continental Europe. The feasibility study is expected to provide innovative solutions important for ensuring the stability of the electricity system while also integrating renewable energy sources.

The Minister of Energy noted that synchronisation, which brings together dozens of different infrastructure projects and technical solutions, offers wide opportunities to utilise both the experience of Japanese energy companies, as well as innovative and advanced technologies.

Another project of interest to Japanese companies is the decommissioning of the Ignalina NPP. Companies from over 20 countries are currently involved in this project. Japanese companies have great potential to participate in this project by sharing best practices and innovative technology solutions.

During the meeting, both countries agreed that it is important not only to implement energy infrastructure projects, but also to ensure its protection. With the rapid growth in digitisation, protection from cyber-attacks is becoming increasingly important. The minister noted that he could see opportunities for cooperation with Japan and the synergy of this cooperation with the already initiated cooperation of Lithuania and the other Baltic States with the United States in the field of cybersecurity, in implementing the synchronisation project. The Japanese representatives confirmed both the strategic and practical potential of such cooperation.

This meeting was a targeted and consistent follow-up to the memorandum of understanding signed in Tokyo in October with the aim of stepping up bilateral energy relations. Lithuania and Japan intend to strengthen cooperation in the decommissioning and dismantling of nuclear power plants, and to initiate and develop joint renewable energy, energy saving, storage and storage technology projects.