Litgas, the gas trading arm of the state-owned energy group Lietuvos Energija, will sign a renewed liquefied natural gas (LNG) supply contract with Norway's Statoil on Monday.
Lithuania's LNG tanker "Independence"

The companies will sign amendments to the 2014 contract that, based on unofficial information available to BNS, will extend the term for another five years and will provide for smaller annual gas volumes and a slightly lower price.

Prime Minister Algirdas Butkevicius and the heads of Lietuvos Energija and Litgas will hold a news conference to announce the new agreement with the Norwegian supplier, the government's press office said on Friday.

in August 2014, Litgas and Statoil signed a five-year contract for the supply of 2.7 billion cubic meters of LNG, or 540 million cubic meters annually, an amount that is too large for Lithuania alone as obstacles in Latvia are preventing Latvian and Estonian companies from purchasing it.

Lithuania's fertilizer manufacturer Achema, which is the single largest natural gas consumer in the country, is also likely to sign a contract with Statoil by the end of January.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Chances for Lithuania to get more funding for N-plant closure increasing – expert

A proposal for the European Parliament to approve the allocation of 780 million euros for the...

European Parliament's rapporteur proposes EUR 780 mln for Lithuanian N-plant closure

The European Parliament is recommended to approve 780 million euros in funding for the Ignalina...

Energmin calls deal on synchronization scenario 'decision of the decade'

Lithuania, Latvia and Estonia have reached a long sought-after agreement that opens the way for the...

Technical scenario for Baltic grid synchronization approved in Brussels (Updated)

The project for the synchronization of the Baltic power grids with the Continental European system...

Danpower agrees to put off amicable deal's implementation

German energy company Danpower has agreed to postpone the implementation of the State of Lithuania's...