WARSAW, Nov 13 (Reuters) - Polish and Lithuanian network operators Polskie Sieci Elektroenergetyczne (PSE) and Litgrid are considering a land route for a second power line between the countries to cut the cost and time needed to build a new cable, PSE said on Monday.

Three decades after splitting from the former Soviet Union and 17 years since joining the European Union, Estonia, Latvia and Lithuania still depend on Russia to ensure stable power supplies.

A project to build an underwater power link between Poland and Lithuania faces a significant delay as costs have exceeded initial projections. The link, initially set to be completed in 2025, is expected to be built in 2027-2028.

PSE said on Monday one option was to build a land cable, rather than an underwater link.

"According to a preliminary assessment, choosing this variant may allow for a reduction of the project budget and its faster implementation," it said in a statement.

The land cable could in part use the corridor of the planned Rail Baltica railway route between Poland and Lithuania, PSE said, adding options were being considered. The decision on which will be chosen will be made in the first half of 2024. (Reporting by Marek Strzelecki; editing by Barbara Lewis)