Baltic States, Finland Hold First Regional Group Meeting

While Albania, Azerbaijan, Bulgaria, Georgia, Greece, Italy, and Turkey were taking part to the the first meeting of the Southern Gas Corridor Advisory Council in Baku, Lithuania hosted a meeting to create a fully functional common market for gas in the Baltic States and Finland. 

“It is very important that we are united by the mutual interest to create flexible conditions for the Baltic market players to use the existing infrastructure for the benefit of both participants and customers in the gas market. Harmonisation of the regulatory environment is one of the main challenges that we intend to resolve as soon as possible,” Energy Vice-Minister Aleksandras Spruogis said as reported by a note released by the Lithuanian Ministry of Energy. 

The group is expected to come up with an action plan on the development of a regional market by the end of the year, sketching out measures of harmonisation of the legal and regulatory environment.

‘The participants in the meeting exchanged information on current situation and future steps in the implementation of the provisions of the Third EU Energy Package, discussed the main obstacles that prevent a brisker trade between the countries, and considered measures that could be taken in 2015-2016 to remove such obstacles.’ 

Estonia, Finland, Latvia, and Lithuania will hold the second meeting of the Regional Group in April. 

Earlier this year, the three Baltic countries signed the Declaration on Energy Security of Supply.