Memorandum signed in Tokyo will strengthen Lithuanian-Japanese energy relations

Date

2019 10 24

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In order to promote closer energy relations, Minister of Energy Žygimantas Vaičiūnas and Japanese Minister of Economy, Trade and Industry Isshu Sugawara signed a cooperation agreement today (October 23) in Tokyo. The bilateral agreement, which was signed in the presence of President Gitanas Nausėda, is meant to ensure more practical cooperation on energy projects.

Lithuania and Japan will seek to strengthen cooperation in the decommissioning and dismantling of nuclear power plants, and to initiate and develop joint renewable energy (solar, wind and biomass), energy saving, storage and storage technology projects. Another area of cooperation is the liquefied natural gas (LNG) market, as the development and functioning of a competitive, flexible and transparent global LNG market is important to both countries.

The latest example of practical cooperation between Lithuania and Japan is the cooperation initiated by the transmission system operators of the Baltic States and Japan. This cooperation began in order to implement certain technical solutions necessary for connecting the Baltic electricity networks for synchronous operation with the electric power system of continental Europe. In the long run, this will make it possible to use innovative measures to ensure system frequency stability and will facilitate the integration of renewable energy sources.

“I’m pleased that the idea of Japan and Lithuania cooperating in the synchronisation project that was raised exactly one year ago has taken form. And today, our bilateral relations were strengthened by an agreement by which we will be expanding our cooperation to include the fields of synchronisation, renewable energy and energy storage technology. Both sides are interested in practical ties in the field of energy. Lithuania is implementing important and complex energy projects and creating an innovation-friendly environment, so it is in Lithuania that the advanced technologies developed in Japan can be applied. Our companies, which have accumulated substantial experience and are creating innovations and actively participating in the EU market, can become reliable partners as Japanese business becomes established in both the regional and the EU energy sector,” says Minister of Energy Žygimantas Vaičiūnas.

During his visit to Japan, the Minister of Energy will meet with representatives of the major Japanese energy companies – Toshiba, Hitachi, Panasonic and Tepco. During these meetings, Mr Vaičiūnas will present new opportunities for Japanese investment in Lithuania which have been created by the dynamically and rapidly developing renewable energy sector. He will also talk about the closure of the Ignalina Nuclear Power Plant and the most difficult jobs ahead – dismantling the reactors.