Baltic Countries Sign Declaration On Energy Security of Supply

Estonia, Latvia and Lithuania signed an agreement to increase regional cooperation in order to decrease risks related to the current tensions with Russia. The three Baltic countries also committed to a timely completion of key infrastructure projects. 

“We have included in our Declaration the main dimensions of the Energy Union meaning security of supplies, competitive and completed internal market, our commitment to respect solidarity.  I am proud to say that this initiative of three Baltic States fits perfectly into concept of the Energy Union” Latvia’s Minister of Economics Dana Reizniece commented in a note. 

Ministers of the three countries met to sign the so-called Declaration on Energy Security of Supply of the Baltic States, which has been branded as a fitting instrument to further integrate Estonia, Latvia and Lithuania into the internal European energy market.  

“Signing of the Energy Security of Supply declaration marks the beginning of the important and irreversible shift in our region towards liberal, transparent, competitive and fully functioning regional gas and electricity markets” Minister of Energy of the Republic of Lithuania, Rokas Masiulis added.  

The agreement will also pave the way to the synchronisation of Baltic power network with the European Continental Networks.

Latvia took over the Presidency of the Council of the European Union from Italy. It held the opening event last week in Riga.