Riga: Lithuania, Estonia, and Finland will gain access to strategic gas reserves at Latvia’s Incukalns Underground Gas Storage (UGS) facility under amendments to the Energy Law, adopted by Latvia’s Saeima (parliament) on Thursday.
The Incukalns UGS, a key asset for regional gas supply stability, will no longer be subject to tariffs set by the Public Utilities Commission (PUC) starting May 1, 2026.
Instead, the system operator will oversee auctions for storage capacity and set service fees, Xinhua news agency reported.
These amendments are expected to enhance cooperation within the Baltic region and Finland, supported by existing gas supply solidarity agreements. During the summer, natural gas could be pumped into storage to ensure adequate supply during the colder months across Latvia, Estonia, Lithuania, and Finland.
–IANS