Under the new scheme, proposed by the Lithuanian government to finance the maintenance of the Klaipėda liquefied natural gas (LNG) terminal, heating prices might inch up a little in several municipalities, but would drop in most others, the parliament was told on Tuesday.
© Shutterstock nuotr.

Energy Minister Rokas Masiulis presented the LNG terminal maintenance model in the Seimas for the second time, after the bill failed to pass in the first hearing. This time, 76 MPs voted to support the scheme, three opposed it and nine abstained. The parliament will discuss the project as a matter of urgency on November 12.

Lithuania built the LNG terminal to further its energy independence and provide the country with an alternative to importing gas from Russia, its sole supplier until recently.

However, as natural gas demand has dropped 40 percent over the last four years, the previous financing model to cover the cost of the investment and the terminal's upkeep has become unsustainable, threatening to inflate heating bills for ordinary consumers. Gas is used for heating by the majority of households in the country.

Under the new proposed scheme, heating prices could rise 1-2% in Utena, Šalčininkai, Akmenė and Šakiai. However, prices should drop 1-10% in other cities.

Consumers would have to declare what amounts of gas they have used to be taxed.

Data watchdog launches probe into journalist Cerniauskas' actions

Lithuania's State Data Protection Inspectorate said on Wednesday it had launched an investigation...

Economist: recession might probably happen in 10 years

A financial crisis in Europe might happen in ten years at the earliest, the Swedish financial...

Executives of two dairies slapped with fines for market abuses

The board of the Bank of Lithuania has imposed a fine of 200,000 euros on Linas Strelis, a member of...

Telecoms operators watching situation regarding Huawei

Following Google 's announcement that it has severed relations with Huawei , seen by Washington as a...

Swedbank's pension funds invest EUR 200 mln into sustainable business

Pension funds managed by the Swedbank financial group are investing 200 million euros, or a sixth...