In Stockholm, Lithuania energy min discusses establishment of common European energy market

Creation of common European energy market is a vital condition in order to ensure favourable prices to European customers, energy security and sustainability. This was the main theme of the seminar Electricity Markets and Interconnections which was held in Stockholm, Lithuania's Ministry of Energy reports.

"Lithuania will be the first among the Baltic States to hold the presidency of the EU Council. Having the opportunity to contribute to the objective that EU declared back in 2011 - to complete internal energy market until 2014 and to eliminate any existing energy islands until 2015 - is an honorable challenge for us," said Lithuanian Minister of Energy Jaroslav Neverovich during his speech at the seminar.

The key pillars of the EU energy policy are security of supply, competitiveness of the market and sustainability. The creation of the common energy market would contribute to the implementation of all three objectives. Developed infrastructure and functioning market would ensure safety of supply, competitiveness among the suppliers and the possibility to integrate the amount of energy generated from the renewable sources.

"Common market can be created only after the elimination of the isolation of certain countries from the EU energy system. To do this, we must develop the necessary infrastructure. An important part of this infrastructure will be the projects of electricity and gas interconnections implemented by Lithuania," Neverovich said. According to the minister, very important is the possibility to partly finance infrastructure projects form the new EU budget line "Connecting Europe Facility". This would be a great support for these projects if CEF would manage to get reasonable financing.

During his visit to Stockholm the minister also met with Swedish Minister for IT and Energy Anna-Karin Hatt. During the meeting Ministers discussed the guidelines of cooperation on Energy agenda during Lithuanian presidency of the EU, the implementation of Lithuanian energy infrastructures projects and EU energy and climate policy 2030.