News

Prime Minister Algirdas Butkevičius participated in the Baltic Development Forum held in Riga, the capital of Latvia, as well as in the informal meeting of the Baltic Council of Ministers to discuss the Visaginas NPP, Rail Baltica and other significant regional projects.

The Council of Ministers dedicated much attention to the energy sector. The Baltic Prime Ministers agreed that energy security would be ensured only through regional cooperation and the implementation of strategic projects, namely, the LNG and electricity and gas interconnections.

The Visaginas NPP project also received adequate attention. The Heads of the Estonian and Latvian Governments stated that they would join the project only if it is economically viable.

“It has been agreed at the informal meeting of the Baltic Council of Ministers to continue searching for solutions for the INPP Project, focussing primarily on the viability of the project. Discussions will continue at the level of companies and experts of the regional partners. Consideration will be given to the findings of the Working Group set up by the Lithuanian Government, as well as new conditionalities. Project implementation costs, related responsibilities and risks should be legally shared among the Regional Partners participating in the Visaginas NPP Project”, – said the Prime Minister.

All the project investors should ensure maximum project financing at the lowest costs from international financial institutions and export credit agencies, thus securing competitiveness of electricity generated in Visaginas NPP” – added the Prime Minister.

As regards the issue of transport, major emphasis was placed on Rail Baltica project. The initial proposal was to set up a joint company to run the Rail Baltica Project, but Lithuania considers it more appropriate to set up a European Economic Interest Group, based on the common practice in the European Union. It has been agreed to make a decision on the legal status of a project coordination body by the end of July.