Latvia has chosen Gazprom

​The demand for gas in Latvia is fully covered by the long-term contract with Gazprom, so the country doesn’t need the additional volumes from the LNG-terminal constructed in Lithuania, in the port of Klaipeda. The deputy chairman of Latvijas Gaze, M. Nullmeyer, said  that the market is not ready for additional gas volumes due to the surplus of gas.

Though Gazprom holds 34% of the company’s shares, what makes it somehow dependent on the Russian monopoly, the Government of Lithuania hopes that Latvia would become one of the buyers of the LNG from Lithuania. However, Latvia chooses the cooperation with Gazprom – the Russian gas by 8-12% cheaper than that of Statoil shipped to the LNG-terminal in Klaipeda.

The Government of Latvia also considers an opportunity of construction of its own small LNG-terminal.