Saturday , October 23 2021

Parliament – changes in the liberalization of the gas market


Seimas started to discuss how to encourage competition in the natural gas market and increase the liquidity of the gas market.

After December 11, Seimas agreed to the three laws – LNG terminal, Heat and Energy Market – after December 11th – and will continue to evaluate them on December 11th.

Large regulated energy producers are advised to remove gas from the import company "Litgas" and eliminate the necessity to buy some of the gas on the stock exchange.

Producers that consume 50 GWh or more gas per year will have to buy at least half of GET Baltic.

Energy Minister söylygimantas Vaiči avantajlınas said ada LITGAS G will continue to purchase the amount of gas required to protect the terminal – 4 LNG loads per year, but Lithuania could market in the most economically advantageous market in the regional or international LNG market.

The price of LNG sold by the terminal will not be regulated. According to the new model, the costs of "Litgas" activities and the balancing, exchange and storage of gas would no longer be compensated. They will have to cover their jobs from revenues.

In addition, the LNG terminal increased its sales model by 6 million pounds. from about 20 million euros. Up to 14 million EUR – additional safety component for gas consumers will decline throughout the year.

According to him, the other benefit is that over the years the liquidity and trade volume of the Lithuanian Gas Exchange will increase by 4 times.

"A more active trade in gas exchange would significantly facilitate the entry of new suppliers into the Lithuanian gas market."

In the context of the European Union (EU), the Lithuanian gas market is classified as non-liquid and at the initial development level.

BNS news agencies are not allowed to produce information on mass media or websites without the written permission of UAB "BNS".

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