Energy Minister Rokas Masiulis says that the price of gas supplied through the Liquefied Natural Gas (LNG) terminal will be determined by the international market as it will be calculated based on the United Kingdom's National Balancing Point (UK NBP) gas prices.
Energy Minister Masiulis and PM Butkevičius
© DELFI (V.Spurytės nuotr.)

"In the future, the gas price will depend on the international market. The contract with Statoil was concluded based on a different formula than the one with Gazprom. It means that Lithuania has already reduced risks - the gas price will no longer be affected by the oil price but instead by the clear and transparent British index. If the index falls, so will our gas price. How the index evolves depends on global technology," Minister Masiulis told the Žinių Radijas radio.

According to the minister, in the near future numerous LNG terminals will be launched globally which should have a favourable impact on gas prices.

Gas price calculated based on the UK NBP is currently at around LTL 1,000 (EUR 290) per one thousand cubic metres of gas.

UAB Litgas concluded an agreement with the Norwegian liquefied natural gas supplier Statoil on the supply to the LNG terminal of 540 million cubic metres of gas annually starting in 2015. For five years Statoil will supply gas for lower than the average price on the global market.

It is forbidden to copy the text of this publication without a written permission from ELTA.
Įvertink šį straipnį
Norėdami tobulėti, suteikiame jums galimybę įvertinti skaitomą DELFI turinį.
  • 1
  • 2
  • 3
  • 4
  • 5
(0 žmonių įvertino)
0
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Latvian PM expects Baltics' power grid synchronization to be completed in 2025

Synchronization of the power grids of the Baltic States with the continental Europe must be completed...

Pilot project of floating solar power plant in Kruonis PSHP receives funding

Experimental floating photovoltaic solar power plant project in Kruonis pumped storage hydroelectric...

Year in Lithuania started with 30% increase of the production of electricity

Although the electricity production in the Baltic States grew by one third in January, the electricity...

Lithuania now has substantial legal arguments to deny access for electricity produced in the unsafe Astravyets Plant

On 7 February 2019, the Meeting of the Parties to the Convention on Environmental Impact Assessment in...

Lietuvos Energija calls for strategic partners to develop offshore wind energy projects

Lietuvos Energija , one of the largest state-owned energy companies in the Baltic States, announces...