22:18 / 20.06.2022.

Author: Katja Miličić

Three Seas Initiative leaders gather in Riga for summit

Foto: Riga (Pixabay)

Foto: Riga (Pixabay)

Foto: - / -

Prime Minister Andrej Plenković is in Latvia's capital Riga for Three Seas Initiative summit and business forum that are focusing on energy, transport and digitalization.

Energy has become particularly significant considering the current geopolitical context, underscored Latvia’s President Egils Levits.

US Secretary of State Antony Bliken told the summit in a video speech that the Initiative was even more important now, following Russia's invasion of Ukraine, reaffirming strong US support for the platform.

"Greater energy independence will make member states less vulnerable after the Russian invasion of Ukraine. It will deprive the Russian government of massive resources that it uses to bankroll the attack on the independence of Ukraine," said Secretary Blinken.

Prime Minister Andrej Plenković said Croatia had completed one of the key projects it had charted at the start of the Initiative, the LNG terminal on Krk.

“In my speech today, I took the opportunity to announce that we will continue to invest in and enlarge our existing capacity at the LNG terminal from 2.9 billion cubic meters of natural gas to 6.1 billion cubic meters, which is considerably above the needs of our economy and households and means that Croatia can become a regional energy hub, which is useful for us and for neighbors Slovenia, Bosnia and Herzegovina, and Hungary,” Plenković said.

Over the two days, political and business leaders are discussing the investment climate, economic development scenarios, diversification of energy supply routes and sources, mobility and logistics, and the development of the digital sector.

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