The Cabinet discussed amendments to the Law on Natural Gas, drafted by the Energy Ministry.
"The proposed amendments are designed to implement agreements between Lithuania, Latvia, Estonia and Finland on the creation of a regional gas market," Deputy Energy Minister Egidijus Purlys said during the Cabinet's meeting.
"The regional market initiative aims to harmonize market rules in the region. Combining the national markets into a regional one would help create more favorable conditions for trade and increase competition, making the regional gas market more attractive to international market players," he said.
According to the ministry, the existing legal regulation is not sufficient for integrating the Lithuanian gas market into such a regional market.
Plans call for integrating the national markets by 2020.
