Baltic states have been moving quickly to eliminate reliance on pipeline flows from their eastern neighbor Russia. The addition of floating storage and regasification units (FSRU) will be vital in unlocking the bloc’s LNG import potential.
Although at least two import projects are planned over the coming years in key Baltic states like Poland and Finland, there remains a huge reliance on existing infrastructure which has limited availability of capacity for new entrants seeking to avoid Russian gas. Baltic LNG imports jumped in May as a result. Lithuania’s demand in May was 0.31 Bcm, having increased from 0.21 Bcm a year ago. Poland’s demand was 0.61 Bcm, up from 0.42 Bcm last year.
To read the full article, click here.