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Poland opens a new gas pipeline from Lithuania


Máj, 02 2022
watermark Economic news

Lithuania has launched the GIPL (Gas Interconnection Poland–Lithuania) gas pipeline worth almost 500 million euros, which transmits 230 thousand cubic meters of gas per hour to Poland. According to the operator of the natural gas transportation system, the Lithuanian company Amber Grid, the first physical and commercial gas flows were transferred via a new gas connection yesterday, May 1. The official opening ceremony of the GIPL gas pipeline will take place on May 5 in Lithuania.


The CEO of the company also noted that, depending on the needs, gas through the pipeline can go in both directions – to Poland and back from Poland to Lithuania. The authorities call this event a key event in the quest to achieve energy independence of the entire European region from Russian gas, including the Baltic States and Finland.


The capacity of the line in the direction of Lithuania from May 1 to September 30, 2022 will be 2,564 MWh. In the opposite direction – 2,419 MWh.


The new gas pipeline has a connection with a floating terminal in Klaipeda, where Poland will be able to import liquefied gas through the pipeline and tankers. The total capacity of the terminal is 4 billion cubic meters of gas per year. Of these, Poland will be able to receive 1.9 billion cubic meters.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.