Government rejects Skulte LNG terminal developer's requests

The Latvian cabinet, on the basis of an analysis by the Ministry of Climate and Energy (KEM), rejected the terms of the project proposed by Skulte Liquefied Gas Terminal developer AS Skule LNG Terminal and its strategic investor, the Ministry said on February 21.

On January 24 this year, the Cabinet ordered KEM to undertake an in-depth assessment of the conditions for cooperation on the project for the Skulte LNG terminal from the developer AS Skulte LNG Terminal. 

The investor requested State guarantees – namely, compensation for losses if such occurred.  

After receiving additional information, which provided more detailed information on the infrastructure, capacity and costs of the project, the Ministry concluded that the specific conditions of project cooperation cannot be supported, mainly due to the extent of their regulatory advantages and guarantees, KEM said.

Previously, Prime Minister Kiršjānis Kariņš (New Unity) had stated that if a private investor for the construction of the Skulte LNG terminal asked for unacceptable guarantees, the State could build the terminal itself.

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