On Thursday Seimas of the Republic of Lithuania approved the Law on Amendment to Articles 5, 10 and 11 of the Law on Liquefied Natural Gas Terminal of the Republic of Lithuania.
The Law, inter alia, amends the regulation of trade of natural gas brought through the LNG Terminal, i.e.:
The Law also specifies provisions related to the financing of the LNG Project that should come into effect as of 1 January 2014. The Law establishes that all fixed operating costs of the LNG Terminal, its infrastructure and connection necessary for the ensurance of operations of the LNG Terminal and only those installation costs of the same which are not feasible for financing from other resources available to the company shall be included into the supplementary constituent of the natural gas transmission price for security of the natural gas supply.
The Law shall come into force upon its signature by the President of the Republic of Lithuania and publishing it in “Valstybės žinios” (State News).
Once the Law comes into force the European Commission should adopt a decision regarding further process of the currently suspended pilot procedure regarding potential breach of EU law.
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LNG World News Staff, June 28, 2013; Image: Höegh LNG