According to the President, Lithuania has proved being able to adopt strategic decisions and implement energy projects of importance to the whole region. The LNG terminal is important for the energy security of Lithuania as well as of the entire Baltic region. The capacity of the terminal will be sufficient to satisfy the needs of all Baltic states. If necessary, the Klaipėda LNG terminal can serve and fulfill about 90 percent of the gas supply needs of Lithuania, Latvia, and Estonia.
Based on the European Commission's report on the resilience of the European gas system, the Klaipėda LNG would protect consumers of Lithuania, Latvia and Estonia in case of a possible disruption of gas supplies.
The importance of this terminal is recognized at the EU level. In the Commission's European Energy Security Strategy presented last May, the Klaipėda LNG terminal is included as number one in the list of infrastructure projects that contribute to ensuring the security of EU supplies.
Until now, Lithuania has been purchasing gas from the single gas supplier - Russian monopolist Gazprom. The terminal will enable to purchase gas from different suppliers. Agreement for the purchase of gas has already been concluded with Norwegian company Statoil, and, if necessary, Lithuania has an opportunity to buy gas from other suppliers in the global market.
The main three components of the terminal include the floating storage vessel with regasification unit onboard, special jetty, and high pressure gas pipeline connecting the terminal to the main pipeline.
In February this year, the President attended the inauguration of the vessel in South Korea. The LNG storage vessel for was built for Lithuania in South Korea by Norwegian company Höegh LNG in association with South Korean company Hyundai Heavy Industries. Lithuania has leased the LNG storage vessel "Independence" from Norwegian company Höegh LNG.
The President has consistently encouraged and supported the implementation of the LNG project.
