The terms of cooperation submitted by the project owners on 13 January were rejected after the government became aware of KEM’s in-depth assessment.

On January 24, the Council of Ministers instructed KEM to evaluate the cooperation conditions of the project in depth. To provide a qualitative analysis, on January 30, KEM requested additional information from the developer.

After receiving additional information providing more detailed information on the infrastructure, capacity and costs of the project, KEM concluded that the specific cooperation conditions of the project could not be supported, mainly because of the scope of its regulatory benefits and guarantees.

As reported, in September 2022, Saeima passed the bill administered by the Ministry of Economy, which determined to grant the status of object of national interest to the LNG terminal in Saulkrasti, but did not provide a state guarantee for gas supply from there. .

In the following months, “Skulte LNG Terminal” found a strategic investor and submitted proposals to the government on desired forms of cooperation, but neither the name of the investor nor the company’s exact wishes were made public.

“Skulte LNG Terminal” was registered in 2016. The website “Skulte LNG Terminal” states that the real rights holders of the company are Arnfins Unums and Pēteris Ragaušs. At the same time, in the second half of May 2022, fuel trader AS “Virši-A” announced that it has acquired 20% of the shares of “Skulte LNG Terminal”.