Lithuanian Parliament endorses National Energy Independence Strategy

The strategy sets forth the key goals of Lithuania’s energy sector and the policies of their implementation by 2020 and outlines the guidelines for the energy sector development by 2030 and 2050.

The strategy stipulates that planned investments by the state, the European Union (EU) and private investors, which are expected to reach 22-27 billion litas (EUR 6.4-7.8 b) over the decade, will enable Lithuania to save between 3 and 4 billion litas each year that is now spent on importing energy resources. Moreover, the investments will secure the supply of energy and more stable and competitive prices.

The major energy projects planned by Lithuania include a new nuclear power plant, a liquefied natural gas (LNG) terminal, power links with Sweden and Poland, synchronization of Lithuania’s electricity grids with those of European countries, a gas link with Poland and an underground gas storage facility.

With the initiatives established in the strategy put in place, heating costs will decrease by some 500 litas (EUR 145) per year per each household and 5,000-to-6,000 permanent jobs will be created in the energy sector. Moreover, investments will support the development of construction and services sectors.

The approval of the national Energy Strategy should be followed by the drafting and approval of the strategy’s implementation plan that would cover specific provisions and specific projects as well as specific investment needs.

The existing National Energy Strategy was endorsed in 2007.