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Andrus Ansip, Andrius Kubilius and Valdis Dombrovskis. Prienaj, 8.03.2012. Photo:

The concession contract of the projected Visaginas nuclear power plant (NPP) must be signed in the short run and ratified by June 2012, as Lithuanian, Latvian and Estonian Prime Ministers Andrius Kubilius, Valdis Dombrovskis and Andrus Ansip agreed today during the meeting of the Baltic PM’s Council.

Lithuanian PM Kubilius said that the prime ministers also agreed that the NPP project must gain not only strategic but also economic importance because energy companies take part in such projects only if they find any economic benefits in them, reports LETA/ELTA,

Representatives of the Strategic Investor Hitachi Ltd. and the European Commission were also present at the meeting.

The Prime Ministers discussed the key issues of the implementation of the regional Nuclear Power Plant Project in Visaginas, Lithuania. The Prime Ministers welcomed the progress achieved after their meeting in Tallinn November 10, 2011, writes

The Prime Ministers:

1. Reaffirmed their support of the Visaginas Nuclear Power Plant Project for the security of power supply in our countries.

2. Support participation of the energy companies (Eesti Energia AS, AS Latvenergo, UAB Visagino atominė elektrinė) in the Project, based on its economic viability;

3. Encouraged the companies to finalize the negotiations in timely manner, to reach signature of the Concession Agreement by June 2012 which enables the process to move to the next stage.

4. Look forward to the anticipated positive European Commission opinion under EURATOM treaty requirements and on that basis seek funding for the Project from European financial institutions.

The Prime Ministers also expressed the understanding to maintain an open opportunity for Polish company to participate in the agreements of regional Visaginas Nuclear Power Plant Project in accordance with the Project schedule and the interest of all participating parties.
They continued discussions about introducing common regime on electricity imports from third countries.