All four projects are aiming towards the status of the Regional LNG Terminal of the region.
The Lithuanian decision to sign a 10-year lease contract for Floating Storage and Regasification Unit (FSRU) “Independence” has been received controversially and criticized for lack of economical long-term reasoning. Although it has opened alternative supplies for the Baltics, it comes at huge costs. Lease payment for FSRU "Independence" is 66M USD/year, total Klaipeda LNG Terminal expenditure budget for one year is around EUR 86M. The end of FSRU lease period: 2024.
Lithuanian gas consumers are covering Klaipeda costs by Security of Supply payment. Key contributor Achema (dominant Lithuanian gas consumer) has sued European Commission for accepting state support mechanism for Klaipeda LNG Terminal.
Both Tallinn and Paldiski terminal projects are similar to Klaipeda LNG Terminal in terms of investment and economic evaluation.
Skulte LNG Terminal is the only one who does not require investment in expensive LNG cold storage facility, it uses unique geographical location near the 3rd largest European underground gas storage at Inčukalns. Skulte project is at least 3 times cheaper than any other LNG import terminal project.
The total construction costs of LNG terminal at Skulte port are comparable with 1 year expenditure budget of Klaipeda. Operational costs of Skulte LNG terminal are considered to be eight times cheaper than those of Klaipeda.
Skulte LNG Terminal
Skulte LNG Terminal project is the most competitive LNG import terminal project in the region. The project developer considers Skulte LNG Terminal to be the cheapest LNG terminal of comparable capacity in the world.
JSC Skulte LNG Terminal
Address: Dzirnavu iela 36, Rīga, LV-1010
Reg. code: 40103976384
VAT code: LV40103976384
tel.: +371 29 452 558
+371 29 151 050