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Home - Norwegians Propose to Build a Liquefied Natural Gas Terminal in Latvia

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Norwegians Propose to Build a Liquefied Natural Gas Terminal in Latvia

The Norwegian company BW Maritime intends to build a marine terminal for liquefied natural gas (LNG terminal) in Latvia. The main condition is the ability to connect a gas pipeline of the future LNG terminal with the underground gas storage in Inchukalns.

Now it is under the control of the Latvian monopoly gas company Latvijas Gāze, which is controlled by the Russian raw giants “Gazprom” and “Rosneft” as informs the program "Nekā Personīga" on a TV channel TV3.

BW Maritime is ready to invest their own money in the construction of an LNG terminal in Skulte and the object`s connection with gas storage in Inčukalns with the help of a gas pipeline. Total costs of the project are valued at 150 million euro. This is four times less than the amount of investment that was required to build a floating terminal for storage and regasification of liquefied natural gas Independence, which will start working in Lithuania, in the port of Klaipeda this year.

BW Maritime as a fleet of 18 liquefied gas tankers that transport LNG worldwide.

“We are the world's largest company that is engaged in transportation of LNG. We are looking for 40-50 alternative projects and the Latvian project is one of the most attractive. We have been working on this issue for two years. We had meetings with ministers in December, 2013 and January, 2014. They assured us that we can move forward with this project. We were slow as well, but now we have received an approval of the company that allows moving forward. We have allocated money for the continuation of the project” - says the general manager of BW Maritime Arnfinn Unum.

The main condition for the start of the project is the ability to connect the LNG terminal with underground gas storage in Inčukalns with the help of a gas pipeline. Norwegians wait when Latvia will fulfil all requirements of the European Union`s Third Energy Package of reforms in the field of gas and electric power and divide Latvijas Gāze into few companies that will individually deal with trade, transportation and storage of gas.

However, according to Nekā Personīga, this process is delayed and can be ultimately resolved only by 2019.

Co-financing for the project can be provided by the European Commission, however, the discussion about this can begin not earlier than in 2016 in Brussels.