European Commission Approves Lithuanian LNG Project
On Wednesday the European Commission has found that state aid for the liquefied natural gas terminal project, developed by AB Klaipedos Nafta, is state aid compatible with the internal market. In present value terms, the various public support elements for the LNGT project amount to about EUR 448 million.
The European Commission has concluded that the investment into the LNGT contributes to the security of gas supply and that the aid is necessary and proportionate to realise the investment. Moreover, the LNGT will be open to third parties on non-discriminatory terms, ensuring that there are no undue distortions of competition.
The European Commission has also found that compensation for LNGT maintenance costs is in line with the EU Framework on services of general economic interest.