The commercial industrial gas market in Lithuania is estimated to have generated revenues of $18.5 million in 2016. This is up from $10.8 million in 2006, indicating an average annual growth rate of 7.7% p.a. for the decade.
Between 2005 and 2015 GDP grew by an average of 4.8% p.a. when adjusted for inflation. The Baltic nations were amongst some of the worst hit countries in terms of the global financial crisis. In 2009 GDP fell by almost 15%, but recovery was quick and GDP growth has been positive since. A number of successful governmental policies has attracted major foreign investment and this has been a key driver for the recovering economy.
Report Data: 2018
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Lithuania’s liquefied natural gas (LNG) terminal in Klaipeda, the first facility in the Baltic States to break Gazprom’s monopoly of supply, won the Project of the Year award at the European Gas Conference in Vienna that ended on 29th January.
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