The National Commission for Energy Control and Prices has approved a methodology which will be used to set liquefied natural gas (LNG) prices for heat and electricity producers who are obliged to buy a set share of their gas from the LNG terminal in Klaipėda.
Klaipėda LNG terminal
© DELFI (V.Spurytės nuotr.)

According to the new version of the law for the terminal, energy producers buying gas from Litgas will pay the average market price and the difference between the purchase and selling prices will be covered by all gas consumers through the new capacity tax.

The Commission specifies that the gas price will be calculated according to the sales of gas over the past 12 months in Lithuania and to contract formulas valid at the time of calculation. The gas exchange transactions at the gas market will also be taken into account. The Price Commission can adjust the gas price every six months within 10% limits.

The Commision has to present next year‘s Litgas gas pricing by the end of this year.

Vasiliauskas calls on MPs to turn to ECB over banking tax

Vitas Vasiliauskas , board chairman of the central Bank of Lithuania , has called on lawmakers to...

Fake or true: your coffee might contain grounded cockroaches (1)

In past months some global media shocked their readers by claiming that grounded coffee might...

Nauseda: state bank shouldn’t be taboo

The existing situation in the Lithuanian banking market makes one to start thinking about the...

Lithuania not considering 'century bond' yet

The Lithuanian Foreign Ministry sees no need for issuing ultra-long debt yet, but might consider...

Cabinet backs retail and bank taxes

The Lithuanian Cabinet on Wednesday backed in principle new taxes on bank assets and retail...