Amber Grid

Capital/Financing Update • Jan 15, 2025

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author: Laura Šebekienė
date: 2025-01-15 17:10:00+00:00

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PRESS RELEASE

15 January 2025

Amber Grid strategy to accelerate energy independence by 2035 includes €3.3 billion

The strategy approved by the Board of Amber Grid, the Lithuanian gas transmission system operator belonging to the new energy group EPSO-G, foresees that the company's investments will amount to €3.3 billion over the next ten years until 2035.

The largest amount of the investment will be in new infrastructure for the development of renewable energy, such as a green hydrogen corridor. It will also include the development of the carbon dioxide (CO2) transportation ecosystem, upgrading the existing gas transmission network and making it more resilient. The investments will be financed through a mix of financing sources, with the bulk of the funding coming from EU and international funds and optimising the structure of debt and equity capital of the Company.

Amber Grid strategy is in line with the direction outlined in the National Energy Independence Strategy - to ensure energy self-sufficiency, develop high-value exports, energy security, and a climate-neutral economy, so that energy change reaches all consumers.

"Our strategy is to organise our activities in such a way that Lithuania will be self-sufficient in energy resources and the changes we are making create value for the economy. With the commitments set out in Strategy 2035, we are pursuing three goals - to create an infrastructure that enables reliable supply of clean energy, to ensure energy and national security, and to be reliable strategic partners to our customers in the transformation of the energy sector," says Nemunas Biknius, CEO of Amber Grid.

Amber Grid will continue to maintain and modernise the existing gas transmission network by implementing new projects such as the Green Hydrogen Corridor or the CO2 network. "We see that for more than a decade to come, gas will be an important energy resource on the Lithuanian market, in our region and Europe. Our well-developed infrastructure and international flows oblige us as strategic partners to take care of our customers. Also to ensure the safety and security of the gas transmission system, anticipate potential threats, protect and educate communities living close to the gas pipelines", says N. Biknius.

Amber Grid strategy, together with the companies of the EPSO-G Group, highlights the Group's common mission - to accelerate energy independence and increase system reliability, and its vision - to enable green transformation, while ensuring the interests of energy and national security. A range of empowerment tools will be used to achieve the strategic changes and goals: financing, innovation and digitalisation, partnerships, asset development and management, supply chain and procurement improvements.

The successful implementation of the strategy will be built on the backbone of the organisation - professional employees, which demand in the Company will grow by 30% over ten years. Specialists who are able to develop new infrastructure are already being trained, competence in the field of green energy technologies is being raised, cooperation is being carried out with international partners, creating a common European hydrogen network, participating in energy initiatives.

About Amber Grid

AB Amber Grid is the operator of the Lithuanian gas transmission system, belonging to the EPSO-G group of companies. The company operates a network of high-pressure gas pipelines with a length of 2,288 km throughout Lithuania, manages more than 60 gas distribution and accounting stations and 2 gas compressor stations. The Amber Grid system is connected to the gas transmission systems of four other countries and the Klaipėda LNG terminal. The well-developed gas transmission infrastructure is convenient for transporting large volumes of energy to Poland, the Baltic countries and Finland. In order to achieve the decarbonization goals of the gas sector, Amber Grid is active in facilitating the development of biomethane and the adaptation of the gas transmission system for the transport of green gases, including hydrogen. Amber Grid also administers a national register of guarantees of origin for gas produced from renewable energy sources (RES). The company's shares are listed on the Baltic Secondary list of the NASDAQ Vilnius Stock Exchange. The controlling stake is owned by the EPSO-G, 100% of which shares belong to the Ministry of Energy of the Republic of Lithuania.

More information:

Laura Šebekienė

Head of Communications at Amber Grid

Tel. 8 699 61246, e-mail l.sebekiene@ambergrid.lt