"Litgas is conducting talks with Statoil and we are hoping that the deal will be signed in the near future. And we hope that the Price Commission will once again review gas prices and lower them," Butkevičius told reporters at his annual media conference.
The negotiations should be concluded soon "after the Epiphany", or January 6, he added.
Litgas and Statoil signed a five-year deal in late 2014 on supplying 2.7 billion cubic metres of LNG to Lithuania's newly-built LNG terminal in Klaipėda.
However, as gas consumption has dropped significantly over the last several years, the government is thought to be conducting talks with Statoil over extending the contract for five more years with smaller volumes and lower price.
Under the current deal, the gas price is linked to gas index in the UK and largely correlates with those in the European Union. The five-year deal is estimated to be worth between €724 million and €868 million.
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 , one of the largest state-owned energy companies in the Baltic States, announces...
On 7 February, the Meeting of the Parties to the Espoo Convention in Geneva decided that Belarus had...
Lithuania has signed a liquefied natural gas (LNG) purchase contract with energy company Total Gas...
Lietuvos Energijos Gamyba initiates a unique pilot project in the Baltics – a battery energy storage system in the Kaunas hydropower plant
Lithuanian state-owned enterprise Lietuvos Energijos Gamyba , a part of Lietuvos Energija Group,...