Lithuania, Norway Discuss Energy Cooperation

April 9, 2013

Lithuanian President Dalia Grybauskaitė and Norway’s Prime Minister Jens Stoltenberg met in Oslo yesterday to discuss the perspectives of economic and energy cooperation between Lithuania and Norway.

The President and the Prime Minister talked about the possibilities to import Norwegian natural gas and electricity generated at hydroelectric power plants in Norway.

“When we are no longer dependent on the single supplier, we will pay for gas and electricity the market prices, not the prices dictated by the monopolist. Norwegian natural gas and electricity is one of the possibilities to reduce dependence on Russia,” the President said.

An alternative in natural gas supplies will be ensured for all three Baltic States by the LNG terminal which is being constructed in Klaipėda. The terminal is planned to start functioning next year. An FSRU for the Klaipėda terminal will be built by the Norwegian company Höegh LNG.

Having joined the Nordic power market Nord Pool Spot, Lithuania today is already importing Scandinavian electricity, including from Norway where, due to favorable climatic conditions, electricity generated at hydroelectric power plants is one of the cheapest in Northern Europe.

Lithuania-Sweden power interconnection, which is to be completed in 2015, will open an opportunity to further increase Norwegian gas imports to Lithuania and exploit more rationally the Kruonis Pumped Storage Plant. The Norwegian gas is expected to account for up to 35 per cent of Scandinavian gas export volumes, considerably reducing imports from Russia.

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LNG World News Staff, April 09, 2013; Image: president.lt