The European Union (EU) imports 53% of the consumed energy, Russia being the dominant exporter especially to Central and Eastern Europe.
"Dominance in energy import raises risks to energy security, often it results in the distorted market," said the Lithuanian energy minister.
The minister said that the European Energy Security Strategy, recently approved by the European Commission, is an important step seeking to ensure greater energy security among the EU member states.
"Lithuania also contributes to the implementation of this EU strategy – Lithuania's LNG terminal, which is going to be launched next week, has been included in the European Energy Security Strategy as one of the most crucial objects increasing Europe's energy security," Masiulis noted.
The energy minister informed that Lithuania's liquefied natural gas terminal is going to provide 4 billion cubic metres (BCM) of natural gas per year while all three Baltic countries – Lithuania, Latvia and Estonia – annually consume 4.8 BCM. Therefore, it is going to be the primary measure in monopolistic gas markets of the Baltic states to ensure gas supply.
According to Minister Masiulis, everyone will benefit from the alternative, Europe, Lithuania and even Russia, because relations in the area of energy will be depoliticised and move on to the business level, where decisions are made based on market rules.
Prime Minister Taavi Rõivas said that the state of developing gas connections for Estonia is a matter of concern, writes the National Broadcasting.
"As for gas connections, we have to be frank and note that the current situation for Estonia is rather bad," said the Estonian head of Government ahead of the European Council meeting in Brussels. "Two enterprises, one from Estonia and the other from Finland, that have been in talks, over the issue have reached an impasse, and it does not look as if we might reach an agreement," he added.
"We agreed with the Prime Minister of Finland last week that as enterprises are unable to reach an agreement, we are prepared to raise the issue on the level of prime ministers," said Rõivas, explaining that Estonia's principal interest is in getting the Balticconnector pipeline between Estonia and Finland built as soon as possible.
The Estonian Prime Minister emphasised that Estonia's primary goal besides ambitious objectives on the European Council agenda is to maintain and develop the competitiveness of its domestic oil shale sector.
