aA
The Jonava-based fertilizer producer Achema's business prospects were not taken into account when the Klaipeda-based LNG terminal's maintenance model was changed, an adviser to the Lithuanian president says.
Presidential adviser has doubts over LNG terminal's maintenance model
© DELFI (E.Skardžiaus nuotr.)

According to Jaroslav Neverovic, an energy expert and the presidential adviser leading the environment and infrastructure group, the LNG terminal's long-term strategy is based on a assumption that circumstances will not change and Achema will continue consuming as much gas as it does now. But if circumstances change, he says, the existing terminal costs covered by Achema will have to be paid for by other consumers.

"The key issue that's probably not been discussed properly is the issue of the biggest gas consumer in Lithuania, Achema," Neverovic told the Ziniu Radijas news radio on Tuesday.

In his words, the terminal's operator Klaipedos Nafta's (Klaipeda Oil) borrowing of 134 million euros from the Nordic Investment Bank and the redistribution of the terminal's maintenance costs are based on an assumption that micro- and macroeconomic conditions for businesses will be sufficiently good until 2044.

"But what if that strategy and circumstances changed? Then 50 percent of those costs would have to be paid by all consumers as that volume of gas that comes to Lithuania for consumption and the one who pays for it will disappear," Neverovic said.

"Those questions need to be answered. Whether that model is sustainable, whether it’s right and whether better alternatives exist," he added.

The NIB's 25-year loan will allow reducing the LNG terminal's maintenance costs as of Jan 1 and significantly reduce gas for consumers.

It was previously reported that the LNG terminal fee will go down by around 40 percent for all consumers in the country, or by around 27 million euros from around 62 to 36 million euros. Achema, which has imported around half of all LNG imported via the terminal this year, has paid around 20 million euros a year for the terminal's maintenance.

Achema, part of the Achema Group which owned a 10-percent stake in Klaipedos Nafta, has turned to courts over fairly all decisions related to the LNG terminal's maintenance. The group's major shareholder Lyda Lubiene said in July that Klaipedos Nafta's key shareholder, the Energy Ministry, was threatening to increase the terminal fee, which might lead to Achema's bankruptcy.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
|Populiariausi straipsniai ir video

President: Lithuania must defend its haulers' interests 'to the hilt'

Lithuanian President Gitanas Nauseda backs the government's plans to contest the EU Mobility Package...

Lithuanian Airports join international project dedicated to people with hidden disabilities

The national airports operator further pursues the goal to ensure a smooth travelling experience for...

Opera to acquire Lithuanian specialised bank

Opera, headquartered in Oslo, Norway, announced its intention to purchase Fjord Bank subject to...

Tours operators suspend trips to Bulgaria over coronavirus concerns

Lithuania's tour operators Novaturas and Tez Tour have decided not to organize trips to Bulgaria...

First complaint from business over lockdown restrictions reaches court (1)

Lithuanian business representatives on Wednesday lodged a complaint before a court seeking remedy...

Top news

Nauseda: Lithuania will have to go back to financial discipline after corona crisis

Once the coronavirus crisis ends and the economic situation gets back to normal, Lithuania will...

Tours operators suspend trips to Bulgaria over coronavirus concerns

Lithuania's tour operators Novaturas and Tez Tour have decided not to organize trips to Bulgaria...

President: Lithuania must defend its haulers' interests 'to the hilt'

Lithuanian President Gitanas Nauseda backs the government's plans to contest the EU Mobility Package...

Loop traffic has taken effect in Vilnius Old Town

On 7 July, a new order for arranging traffic in Vilnius Old Town took effect – visitors and...

Kaunastic discoveries: music in Kaunas this July

Here’s what the Kaunas calendar has to offer, including cumbia, classical music , urban sounds...

|Maža didelių žinių kaina