Baltic ministers sign Declaration on Energy Security of Supply

Minister of Economics of Latvia Dana Reizniece-Ozola, Minister of Economic Affairs and Infrastructure of Estonia Urve Palo, and Minister of Energy of Lithuania Rokas Masiulis acknowledged importance of regional cooperation in order to end the isolation of Baltic energy market and further integrate it into the internal European energy market.

The Baltic states welcome the European Commission‘s communication on European Energy Security Strategy and will channel all efforts into its implementation, especially to ensure timely completion of key security of supply infrastructure projects.

Minister of Economics of the Republic of Latvia, Dana Reizniece: “Effective regional cooperation is a very important step towards the future European Energy Union. Energy policy goes beyond the borders and we need joint effort to fulfil EU common agenda. We have included in our Declaration the main dimensions of the Energy Union meaning security of supplies, competitive and completed internal market, our commitment to respect solidarity. I am proud to say that this initiative of three Baltic States fits perfectly into concept of the Energy Union. Together with positive experience of the Baltic Region Interconnection Plan (BEMIP) such initiatives this will serve as the best example for other EU regions when we will speak about energy policy governance during our Presidency.”

Minister of Energy of the Republic of Lithuania, Rokas Masiulis: “For the first time our Prime Ministers and we have managed to come to a common agreement that it is of crucial importance to ensure the implementation of the EU Third energy package together with clear, transparent and competitive rules for third party access to the gas system throughout the Baltic States. Signing of the Energy Security of Supply declaration marks the beginning of the important and irreversible shift in our region towards liberal, transparent, competitive and fully functioning regional gas and electricity markets.”

Minister of Economic Affairs and Infrastructure of the Republic of Estonia, Urve Palo: “We consider it important to create a liberal and transparent regional energy market in the Baltic States. Together with our regional partners we aim at ensuring the best conditions for market functioning, ensuring security of supply and developing the infrastructure projects. Solidarity in the emergency situations is a key in the regional cooperation. The energy security of supply declaration signed today provides a strong basis for further cooperation.”

The current geopolitical situation is one of reasons why we need new measures to reduce our energy dependence and increase energy security for both electricity and gas. By signing the Declaration the Baltic States assures they commitment to strengthening regional cooperation even more. Synchronisation of Baltic power network with the European Continental Networks and efficiently working gas market are some of challenges in the energy sector at the same time ensuring the right balance between costs and overall benefits.