Lithuania Makes LNG Terminal Priority in Battle for Cheaper Gas
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Lithuania’s completion of a new liquefied natural-gas terminal is its top priority in a struggle to escape “unfair” pricing by its sole supplier, Russia’s OAO Gazprom, Prime Minister Algirdas Butkevicius said.
Work on the terminal at the Baltic port of Klaipeda, which slowed earlier this year due to legal challenges by companies involved in tenders, is now proceeding apace, Butkevicius said. Financing is also assured with an 87 million euro ($117 million) loan that state-run terminal operator Klaipedos Nafta got from the European Investment Bank in July, he said. The EIB valued the project at 180 million euros.