UPI: Europe backs Lithuanian LNG terminal

Financial aid to Lithuania for a liquefied natural gas terminal will help the country diversify its energy sector, a director in the European Commission said.

The European Commission signed off on $600 million in aid to help with the construction and operation of the LNG terminal planned for the Klaipeda seaport in Lithuania.

"The aid will reduce Lithuania's dependence on a single source of gas supplies and enhance its security of supply," Joaquin Almunia, the commission's vice president in charge of competition policy, said in a statement Wednesday.

The EC provided few specifics about the project, only to say it would provide an additional layer of energy security to Lithuania by 2014.  MORE