Lithuania Approves New Natural Gas Supply Diversification Procedure
OREANDA-NEWS. On 11 December 2013, the Government of the Republic of Lithuania adopted resolution “On amending Resolution No. 1354 of the Government of the Republic of Lithuania “On approval of the Description of the Natural Gas Supply Diversification Procedure”, dated 7 November 2012” (hereinafter, the Resolution) and an annex to the Resolution - the Description of the Natural Gas Supply Diversification Procedure (hereinafter, the Description), which was laid in new version. These legal acts have been prepared implementing provisions of Article 11 of the Law of the Republic of Lithuania on the Liquefied Natural Gas Terminal amended by the Law on Amending Articles 5, 10 and 11 of the Law of the Republic of Lithuania on the Liquefied Natural Gas Terminal (hereinafter, the LNGT), related to trade in natural gas.
The Resolution determines the minimal annual volume of regasified natural gas, necessary for maintaining the stable process of regasification technology in the LNGT at the minimal uninterrupted regime - 540 million cubic metres of gas per year for the regulated period of 5 years after the beginning of the first period of using the distributed LNGT capacities published by the LNGT operator.
The Description determines the procedure and requirements for implementation of diversification requirements, procedure and conditions of appointment of the designated supplier, rights and obligations related to the natural gas supply diversification requirements for the energy companies using gas as well as the procedure of informing about the failure to fulfil diversification requirements.