President Gitanas Nausėda welcomed foreign leaders of the energy sector at the Second Ministerial Meeting on the Partnership for Transatlantic Energy Cooperation (P-TEC) in Vilnius. The President is the patron of this event dedicated to fostering transatlantic energy cooperation.
In his welcome address, the President emphasized the importance of cooperation between the European Union and the US to create a sustainable and competitive energy market, ensure the diversification of energy resources and technological progress.
“Sustainable and integrated energy sector is and will remain a precondition for our economic growth. We face the same challenges and we seek the same goals. Fragmented infrastructure, power-seeking energy suppliers and cyber challenges, as well as investment raising and modernization, are the same challenges faced by many countries. We need a more diversified, better integrated, innovation-driven and competitive energy market based on clean energy. Today, we can unite and work together”, said the President.
It was highlighted that contributing to the activities of P-TEC is another achievement of Lithuania, which provides a platform to draw the attention of the international community to the challenges of energy independence in the region, nuclear safety issues, as well as discuss ways to attract secure investments.
The President also added that Lithuania intended to take the initiative to develop transatlantic energy relations in pursuit of the goals of P-TEC and to work with the US to ensure cyber security by developing strategic energy projects.
“We will be able to identify strategic projects in the energy sector and to explore financing options. To get the best results from P-TEC, we will have to facilitate the exchange of technology and best practices. It is important that P-TEC is flexible and can adapt to regional and national needs to achieve its goals”, said the President.
P-TEC conference where representatives from 24 countries were invited was attended by Rick Perry, the US Secretary of Energy and Founder of P-TEC, Ditte Juul Jørgensen, Director-General of the Directorate for Energy of the European Commission, ministers of Ukraine, Estonia, Latvia, Albania, Romania, the Czech Republic, Bulgaria, Poland, vice-ministers of Moldova and Hungary, representatives of the US think-tank Atlantic Council and others. The event focused on four key topics: energy infrastructure issues, security of energy supply, nuclear energy, and the development of renewable energy sources.
On the eve of the event, on October 6, a 3 + 1 (the Baltic States and the US) Energy Dialogue was initiated to bring together decision-makers from the public and private sectors on energy sector development, investment, technology.
The President’s agenda also includes the meeting with the US Energy Secretary Rick Perry after his speech at the conference.
The P-TEC conference is held for member countries to discuss critical energy (electricity and gas transmission) infrastructure and cybersecurity, nuclear power, coal industry, natural gas, exchange the best practices, foster sustainable relations between business and public authorities by promoting the development of innovative technologies, investing in infrastructure for key energy sources, mitigating the impact on nature and climate.