On Thursday, 21 April, the Saeima adopted in the final reading urgent amendments to the Energy Law that provide for accumulating and storing gas reserves at the Inčukalns underground gas storage to ensure the security of energy supply and uninterrupted availability of natural gas.

Next year, the amount of gas reserves necessary to ensure the security of energy supply will be 1.8 to 2.2 terawatt hours, depending on the available supply provided by liquefied natural gas carriers. The joint stock company “Latvenergo” will be responsible for purchasing the reserves needed to ensure the security of energy supply and storing them at the Inčukalns underground gas storage. In addition, “Latvenergo” will have to ensure that the gas reserves are deposited at the Inčukalns underground gas storage by 1 January 2023.

The amendments were necessary because the sanctions imposed on Russia, Belarus, and individuals of Russian and Belarusian nationality may threaten the stability and security of the energy systems of Latvia and the Baltic states, leading to premature disconnection from the electric grids of Russia and Belarus. According to the explanatory note of the Draft Law, the synchronisation of the Baltic states’ electric grids with the continental European network is set to take place in 2025.

The amendments will enter into effect on the day following their promulgation.

Saeima Press Service