The development of a liquefied natural gas (LNG) terminal in Latvia may be entrusted to either JSC Skulte LNG Terminal or LLC Kundziņsalas dienvidu projekts, as reported by Latvian Minister of Economics Ilze Indriksone after a meeting of the Cabinet of Ministers on 7 June.
Skulte LNG terminal wants to develop the terminal in Saulkrasti, but Kundziņsalas dienvidu projekts wants it to be in Riga.
The Ministry of Economics has time until 31 August to present the government with a report that will include the assessment from independent consultants on the project’s compliance with Latvia’s economic and national interests.
The ministry will pick independent consultants through outsourcing.
Experts will be selected from companies not involved in the selection process, which is required by the Public Procurement Law if an issue needs to be resolved urgently.
As previously reported, on 19 April the Cabinet of Ministers decided that Latvia needs an LNG terminal. The government gave the Ministry of Economics time until 31 May to present an evaluation on the pros and cons, as well as costs, of the terminal project and present the most optimal solution to ensure safe supplies of natural gas to Latvia while also ensuring flexibility and alternatives for imports of liquefied natural gas on a regional level.
Skulte LNG Terminal was registered in 2016 with base capital of EUR 42 000. Last year the company did not gain profits from operations. Its losses were at EUR 438, according to information from Firmas.lv. The company’s website mentions that the company’s beneficial owners are Arnfins Unums and Pēteris Ragaušs.
In May 2022 JSC Virši-A announced the acquisition of 20% of shares of Skulte LNG Terminal.
Kundziņsalas dienvidu projekts was registered in 2010 with base capital of EUR 4 268. The company’s sole owner is a US-based Millennium Energy Partners LLC and its beneficial owner is Laša Šanidze.