Latvia’s economy minister: Alternative gas pipeline project has begun showing signs of life

“Thanks to Latvia’s initiatives and activity in this matter, an important decision regarding division of financial investments has been made. This means the construction of an alternative gas pipeline is becoming a reality,” notes Latvian Economy Minister Vyacheslav Dombrovskis.

This alternative pipeline will connect the Baltic States with Central and Eastern European gas markets, including Poland’s LNG terminal. It is also an important step for Latvia in the context of energy security, as reported by the Economy Ministry.

“During our meeting with Polish Deputy Prime Minister Janusz Piechociński this summer, we discussed the progress of this project and the necessity of making decision that would help differentiate gas supplies in the near future and help countries increase their energy security. By this I mean the necessity of reviewing the financial contribution each country participating in the project will need to make. And on 11 August, ACER made the decision, in which the total funding Poland will receive is much lower than what was initially planned,” said the minister.

Over the past several months, Dombrovskis has been discussing the progress of the project with European Energy Commissioner Günther Oettinger, Polish Gaz System Company Manager Jan Hadam and Lithuanian Energy Minister Jaroslav Neverovič.

“Latvia’s contribution to this project has been reduced by nearly five million and will be EUR 29.4 million. The paying of this amount will take several years,” says Dombrovskis.