The cooperation contracts signed between Lithuanian energy companies with the US liquefied natural gas supplier Freeport LNG brings major political and economic benefit for Lithuania, says the country's energy expert Romas Švedas.
© Reuters/Scanpix

In his words, it is also a significant signal for Russia that has been dominating the Lithuanian gas market for years.

"The Kremlin used natural gas as an instrument or even a weapon for its goals in foreign policy and geopolitics, while Gazprom was the soldier that executed the policies. Signing of the agreement in America during the US-Baltic summit shows that Lithuania and other Baltic states are no longer dependent on energy supplies from Russia and can choose a reliable supply partner that is also a NATO partner," Švedas, Lithuania's former energy vice-minister, told BNS.

In his words, another signal for Kremlin is the fact that the United States is becoming a major player on the gas supplies market in Europe, which means that the US and Russia may be confronted in a competition battle.

The economic significance of the deals with the US company is also important, as the document will benefit Lithuanian consumers and the country's economy, said Švedas.

"The liquefied natural gas market in Lithuania is finally operational, there is competition and different gas suppliers who are starting to compete. The competition benefits the people of Lithuania and the economy," he added.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Chances for Lithuania to get more funding for N-plant closure increasing – expert

A proposal for the European Parliament to approve the allocation of 780 million euros for the...

European Parliament's rapporteur proposes EUR 780 mln for Lithuanian N-plant closure

The European Parliament is recommended to approve 780 million euros in funding for the Ignalina...

Energmin calls deal on synchronization scenario 'decision of the decade'

Lithuania, Latvia and Estonia have reached a long sought-after agreement that opens the way for the...

Technical scenario for Baltic grid synchronization approved in Brussels (Updated)

The project for the synchronization of the Baltic power grids with the Continental European system...

Danpower agrees to put off amicable deal's implementation

German energy company Danpower has agreed to postpone the implementation of the State of Lithuania's...