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« BackNews: Baltic States Want Common LNG Market

Baltic States Want Common LNG Market

The Baltic states of Estonia, Latvia and Lithuania are continuing with plans to develop a common liquefied natural gas (LNG) market.

Later this month, the prime ministers from each nation are set to meet to discuss and finalise plans to create a common LNG market. This would involve utilising storage facilities across the three countries, but particularly in Latvia, where gas purchased in summer at lower prices could be stored safely until demand increases, ERR.ee reported.

Latvia is home to the Inčukalns underground gas storage facility, which is the proposed site for storing gas purchased during the summer months.

Speaking to the news provider, Lithuanian foreign policy advisor to the prime minister Deividas Matulionis explained that each country has something to bring to the table.

“We have our terminal, Estonia also have plans, there is also the Inčukalns facility,” he stated. Mr Matulionis added that the objective of the talks this month is to “finally agree on the regional LNG market”.

Estonia has also revealed that it has plans to construct a medium-sized terminal, but not one that would provide competition to existing sites.

Meanwhile, Argus Media recently reported that Italy could face a gas shortage in September during planned Tag maintenance at the end of the month.

System operator Snam has warned that the country may struggle to meet consumption at this point in time, with the possibility that storage operator Stogit will have to provide withdrawal capacity on these days of maintenance work.

If you need tank gauging systems for your storage facility, contact us today.