The Latvian energy company, Latvenergo has signed agreements for several natural gas supply deals with the Inkoo liquefied natural gas (LNG) terminal in the fourth quarter of 2025, announced the company.
These press release emphasises that these agreements significantly increase the supply security for both Latvenergo and Latvia, as the capabilities of Finland’s infrastructure complement the Klaipėda LNG terminal in Lithuania. Latvenergo has already completed its first market transactions in Finland, delivering LNG through the Inkoo terminal to Finnish wholesale customers during the period when the Balticconnector pipeline is unavailable.
By this year’s end, approximately 2 terawatt-hours (TWh) of LNG will arrive at the Inkoo terminal. Latvenergo will transport and store it in the Inčukalns Underground Gas Storage Facility (IPGK) while also selling portions to Finnish customers.
Since 2022, Latvenergo has obtained the right to use Klaipėda’s terminal’s annual capacity of 6 TWh for the next 10 years. The Baltic natural gas market is 40-80 TWh/year in scale, with interconnections between Poland and Finland and with active LNG terminals in Lithuania, Poland and Finland with the valuable Inčukalns underground gas storage.