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Baltic ministers ink agreement to increase energy security in Riga

Xinhua, January 15, 2015 Adjust font size:

Ministers of the three Baltic states met in Riga on Wednesday to sign a declaration on the security of energy supplies, the local media reported.

The document was inked by Latvian Economics Minister Dana Reizniece-Ozola, Estonian Economics and Infrastructure Minister Urve Palo and Lithuanian Energy Minister Rokas Masiulis as part of the Baltic states' efforts to integrate themselves into Europe' single gas and electricity market.

The Baltic countries committed themselves to diversifying the sources and routes of energy supplies, upgrading infrastructure, implementing the EU Third Energy Package and ensuring transparent rules for third party access to gas pipelines in the region.

This is the first document of this kind signed by the three countries in the field of energy.

"We share the opinion that the next steps should be taken towards opening the natural gas market. The main homework has been done -- we have agreed that we have to work on joint development projects in order to ensure lower electricity and gas prices, as well as stable supplies," Reizniece-Ozola told the press.

She indicated that the declaration would ensure greater security.

"I think that it is important that we have both cooperation and solidarity at a time when gas supplies, for example, might be interrupted for some reason. It is therefore important for us to know that we have neighbors who would help us with their infrastructure and energy stocks," the Latvian minister said.

By signing a joint declaration, the Baltic states have resolved to strengthen regional cooperation on energy by working together on the diversification of energy sources to increase energy security in the region. Endit