Baltic states cut their Russian gas imports to 0 starting from April 2022.
Lithuania has become the very first EU country to completely wean itself from Russian piped gas – a country which just 8 eight years ago was 100% dependent on Russia for its gas supplies.
The magic recipe?
(1) The lndependence FSRU which arrived to Lithuania in Dec14 allowed for a quick start-up of LNG imports and diversification of gas supplies;
(2) No long-term contracts: Lithuania refused to sign long-term contracts after 2015 and rather relied on short-term deals, giving it greater flexibility;
(3) Enhanced interconnectivity with neighbours and better usage of the Inčukalns storage facility in Latvia.
What is your view? Will the EU follow Lithuania’s example?
Source: Greg MOLNAR
