Latvia’s natural gas transmission and storage operator Conexus Baltic Grid will continue to follow its already-planned investments, despite the impact of the COVID-19.
In particular, 93.5 million euros, including funds from the European Union, will be spent in modernising the Inčukalns underground gas storage facility and the Latvia-Lithuania interconnection by 2025.
For its part, by the end of this year, Conexus is planning investments worth 11 million euros. The modernisation of the Inčukalns underground gas storage facility will improve both its infrastructure and operational reliability, while the upgrade of the Latvian-Lithuanian interconnection will double the transmission capacity in both directions in order to meet the growing regional gas demand.
It will also facilitate the access to the Klaipėda Liquefied Natural Gas (LNG) terminal, as well as to the Polish-Lithuanian Gas Interconnection (GIPL), which is planned to start operating in 2022.
For Rinalds Dimiņš, the head of the Inčukalns underground gas storage facility, these projects will also help to stimulate Latvia’s economic recovery.