Natural gas reserves will be designed to ensure a continuous supply of natural gas and prevent the onset of an energy crisis. By 2023, there must be a reserve between 1.8 and 2.2 terawatt hours (TWh), depending on the available supply of LNG vessels.
The purchase and storage of reserves will be organized by the State AS Latvenergo. Access to gas reserves should be provided to the single natural gas transmission and storage system operator AS “Conexus Baltic Grid”. The costs of storage of reserves will be included in the transmission service tariffs of the system operator.
The Law also requires the government to review the amount of the necessary energy security reserves every two years on the basis of an assessment by the Ministry of Economics on the security of energy supply situation and available natural gas sources and capacity.
The amendments will enter into force on the day following the announcement.