The country’s bet on LNG has paid off, but it still needs to generate more electricity
EU energyIf anybody doubted the subtle messaging of Lithuania’s foreign policy, it becomes clear from the name of the floating liquefied natural gas terminal that the Baltic country built to wean itself off Russian gas: “Independence”.
More followed. An oil pipeline from Russia to Lithuania was closed in 2006 for repairs, and has still not re-opened. And, in the 2000s and 2010s, Lithuania was paying one of the highest prices for gas in Europe from its sole supplier, the Russian group Gazprom. “At the time, it looked a very crazy idea” says Zananavičius. “It didn’t make very obvious economic sense. But it was like an insurance policy.” He adds that the terminal now is on a sound economic footing.
The LNG delivered to Klaipėda not only supplies Lithuania with gas but also Latvia, Estonia, and even Finland and Poland. The terminal’s capacity is 30-40 per cent higher than Lithuania’s consumption but only about half of that of all the Baltics and Finland, according to Navikas.
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