The most important Lithuanian energy security project – liquefied natural gas (LNG) terminal in Klaipėda – will ensure security of supply and alternative sources, enabling access to markets and allowing the purchase of gas at market prices.
LNG terminal purposes and essential conditions are:
- to create an alternative source of supply of natural gas, eliminating the dependence of Lithuania on the sole external gas supplier;
- to create conditions enabling Lithuania to independently obtain natural gas to cover emergency gas demand;
- to create conditions for the formation of national and regional gas markets, with a possibility to supply natural gas to neighbouring countries in the future;
- to create a possibility for Lithuania to access gas spot markets;
- to start operation of the LNG terminal as soon as possible but no later than in 2014;
- to implement the project at the lowest possible costs and to use as little of the Company’s, its shareholders’ and borrowed funds as possible, taking into account quality, safety, professionalism in development and other requirements and standards appropriate to this project;
- if expedient, to create a possibility, without disproportionately big additional costs, to expand the capacity of the LNG terminal to the regional LNG terminal.
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