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Latvian government asked to compensate profits lost from rejecting Nord Stream 2

Considering the stance of the Latvian Republic in relation to Nord Stream 2 project, in which the Cabinet of Ministers decided not to permit the participation of Ventspils Freeport, Noord Natie Ventspils Terminal and Baltic Express have decided to ask the government to compensate lost profits. An official request has been submitted to the prime ministers.

It is mentioned in the two companies’ statement that the government had asked the economy minister, transport minister, environmental protection and regional development minister and finance minister to ensure that state representatives appointed by the Cabinet of Ministers to the management board of Ventspils Freeport to vote against any possible involvement of the freeport in Nord Stream 2, which in turn resulted in the rejection of cooperation between Ventspils Freeport and Nord Stream 2.

With that, Noord Natie Ventspils Terminals asks the government to compensate lost profits in the following amount:

EUR 2,500,000 for lost cargo transport services;

EUR 700,000 for lost cargo storage services;

EUR 2,500,000 for unused supply of technological elements (territory/machinery investments).

Baltic Express asks for a compensation of lost profits from railway transportation services – EUR 2,600,000.

«Nord Stream 2 could have secured work for the terminal for the next one and a half years, as well as experience and technological development. Our terminal’s participation in Nord Stream 2 was supported in the project’s home ground in Switzerland, where Latvia’s official stance on the use of Ventspils Freeport in this project was awaited,» mentions Aivars Gobins, board member of Noord Natie Ventspils Terminals, in the letter to the government.


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