The Independence, a floating liquefied natural gas (LNG) terminal, was docked in the Lithuanian port of Klaipėda on Monday. The terminal gives Lithuania the capability to import up to 4 billion cubic metres of gas a year after 2015, Invest Lithuania said.
© Reuters/Scanpix

This is well above the 2.7 billion cubic metres it bought from Russia in 2013, and leaves plenty of extra capacity for the Baltic neighbours Latvia and Estonia.

Natural gas supplier and trader Litgas UAB has signed an LNG supply contract with the Norwegian company Statoil ASA in August 2014. Starting from 2015, Statoil will be supplying an annual volume of 540 million cubic metres of natural gas (around 950,000 cubic meters of LNG) to ensure continuous operations of Klaipėda LNG terminal. The contract also covers possibilities of LNG reloading - a new commercial activity in the Baltic Sea region.

Under the mid-term contract signed with Statoil, the first LNG cargo is expected to be delivered to Klaipėda terminal at the end of December so that the terminal could start commercial operation from 1 January 2015. Each year Statoil will deliver 6-7 such shipments to Klaipėda port.

In order to connect to other EU gas markets, Lithuania also plans to build a gas pipeline to neighbouring Poland by 2019, Invest Lithuania said.

It is forbidden to copy the text of this publication without a written permission from ELTA.
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Lithuania decides to buy out LNG terminal

The Klaipėda liquefied natural gas floating storage and regasification unit (FSRU) terminal should be...

Lithuania to purchase LNG terminal's vessel amid cost cutting efforts

The Lithuanian government approved on Wednesday the legislation, opening doors for the buyout of the...

Lietuvos Energija is Acquiring a Wind Farm Development Project in Poland

Lietuvos Energija , a group of energy companies, further pursues the international strategy provided...

Latvenergo starts selling natural gas in Lithuania

Latvia's state energy company Latvenergo has started offering natural gas to its customers in...

Brussels preparing for talks with Russia on Baltic power systems

The European Commission is getting ready to start consultations with Russia over the switching of...