Riga FSRU

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Riga FSRU was a proposed LNG terminal in Latvia. The project was presumed to be cancelled as there were no development updates since 2011. In April 2022, the Latvian government said that the project site was being considered again for the construction of an LNG import terminal.

Location

The map below shows Riga, the approximate location of the terminal, in Latvia.

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Project Details

• Owner: Latvenergo
• Parent company: Latvenergo
• Location: Riga, Latvia
• Coordinates: 56.948889, 24.106389 (approximate)
• Capacity: 3.6 mtpa, 0.52 bcfd
• Status: Proposed
• Type: Import
• Start Year:

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day

Background

Riga FSRU is a proposed liquefied natural gas (LNG) terminal in Latvia. In 2011, a study found that Riga's port would be the best place in the country to build an LNG terminal.

In October 2015, Latvia and Lithuania agreed to work together to create a unified gas market. With Lithuania's Klaipeda LNG Terminal having been completed in 2014, it appears that Latvia will import gas via Lithuania, rather than build its own LNG terminal.

As there have been no development updates since 2011, the project is presumed to be cancelled.

Project revived

In April 2022, Latvia's prime minister Krišjānis Kariņš said that the government had "conceptually agreed" to begin construction of an LNG import terminal, and both the Riga and Skulte LNG Terminal sites were under consideration with a decision expected to follow by the end of the month after discussions with potential investors. These developments were part of Latvian and wider Baltic region efforts to diversify gas supply sources following decisions to end the usage of Russian gas imports. Minister of Economics Jānis Vitenbergs also pointed out that his ministry's position continued to be that the LNG project should be implemented on commercial terms with limited state involvement, though he conceded that potential private investors were in favour of certain state guarantees such as subsidies to help cover the terminal's operational costs. Regarding concerns raised about the utility of a new Latvian LNG terminal when a floating terminal is already operational in Lithuania and a further floating terminal had entered construction in Estonia, the government continued to stress that a Latvian import facility could be the cheapest and most economical option in the medium-term for the Baltic region due to the proximity of the Inčukalns UGS facility.

The Latvian government subsequently set the Economics ministry a deadline of May 31, 2022, to prepare a report on the potential location of the terminal. Jānis Vitenbergs said, "We will propose to the state the most optimal and cost-effective solution to ensure supplies of natural gas. From the perspective of the state it is important to ensure such projects are implemented with the lowest possible involvement from the state. Project implementation time is also a major issue." It was also announced that, given the ongoing delays in Latvia's planning for an LNG terminal, the government had decided to participate in the Paldiski FSRU Terminal with Estonia and Finland. Latvia may take a 30% stake, requiring an investment of €30-40 million, in the project.