Latvia opened its natural gas market on Monday aiming to end its decades-long energy dependency on Russia’s Gazprom by providing third-party access to the country’s natural gas system.
Latvia is the last Baltic country to liberalise its gas market by splitting monopoly gas utility Latvijas Gaze, in which Russia’s Gazprom owns 34 percent.
A new company – Conexus Baltic Grid – has been spun off. The transmission and storage operator is in charge of the region’s largest underground gas storage which has a capacity of 2.3 billion cubic metres.
Latvia’s efforts to liberalise are in line with European Union rules which state that energy production and supplies must be separated from transmission and storage infrastructure. The plans were set by Latvia’s parliament in 2014.
Full Content: Times of India
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