Russia's state-owned natural gas company Gazprom said it would hold its second gas export auction in mid-March, offering more than 560 million cubic metres of gas to Lithuania and Latvia, Reuters reports.
Gazprom
© AFP/Scanpix

Natural gas sold at the auction will be delivered to the two countries between April and December 2016, the company said in a statement on Saturday.

Gazprom said in November it planned to hold an auction for the Baltic states as its long-term contracts with Lithuania and Estonia were to expire in December.

"Gas sold at the auction will be delivered ... to the delivery point at the Kotlovka gas metering station (on the border between Belarus and Lithuania)," the company said.

Gazprom, which mainly supplies natural gas under long-term oil-indexed contracts, held its first auction for customers in northwestern Europe in September and sold 1.2 billion cubic metres (bcm) of the fuel.

The company has said it plans to auction 6.0 bcm of natural gas for European customers in 2016.

Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

European Commission approves €385 million support for production of electricity from renewable sources in Lithuania

The European Commission has approved, under EU State aid rules, a scheme to support electricity...

Klaipedos Nafta says not worried yet after Belarus stops fuel exports

Following the Belarusian oil product export monopoly's suspension of light oil product exports to...

Search for best startup begins: award that motivates to move forward

Last year, at the international start-up conference Startup Fair, “ Oxipit “, a start-up...

Government may provide extra EUR 400 mln for public-sector salaries

If a strategy for raising pay in the Lithuanian public sector is approved, almost 400 million...

Lithuania plans to deploy smart meters in public utility sector

The Lithuanian Energy Ministry expects to have in late June the results of a study into deploying a...