Today, the Cabinet led by Prime Minister Andrius Kubilius has approved a huge legislative package regulating the implementation of strategic energy projects. This means that Lithuania is ready to implement the energy independence strategy, which ensures security, economic benefits and integration into Europe.

Today, at its sitting, the Cabinet has agreed to the renewed National Strategy of Energy Independence, thereby setting key objectives for the Lithuanian energy sector for the period leading up to 2020 and outlining the vision of the energy sector up until 2050.

Republic of Lithuania and Hitachi, Ltd. announce their agreement of the Visaginas Nuclear Power Plant Concession Agreement, paving the way for the next phase of project development  

Today, March 2, 2012, AB Klaipėdos Nafta entered into a lease agreement for a floating liquefied natural gas storage and regasification unit (FSRU) with Höegh LNG.

Prime Minister of Japan Yoshihiko Noda expressed his hope for progress in the Visaginas Nuclear Power Plant (VNPP) project during his meeting with Prime Minister of Lithuania Andrius Kubilius. Prime Minister Yoshihiko Noda also noted great significance of the VNPP project to the energy security of the region and stressed the importance of high standards of nuclear energy safety. Both Prime Ministers said that Hitachi company, that will invest in Lithuania, has been paving the way for investments by other Japanese companies both in Lithuania and the European Union.

The adopted Law on Electricity, which comes into effect on 7 February 2012, creates a legal framework for enhancing the development and competitiveness of the Lithuanian electricity market and ensures separation of activities of the electricity transmission system operator from other companies of the national electricity system.