EMEA News
Statoil to Supply Natural Gas at Klaipėda
Norway's Statoil ASA will supply 540 million cubic meters of natural gas per year to the Klaipėda LNG terminal starting in January, Lithuanian natural gas supplier UAB LITGAS (LITGAS) announced.
The contract promises continuous operation of the terminal, with a new natural gas pricing policy based on price movements in international markets.
LITGAS, a subsidiary of Lietuvos Energija, said earlier this year that the selected LNG supplier will provide the fuel for liquefied natural gas (LNG) bunkering, as well as small-scale LNG supply and gas or LNG to commercial customers in the Baltic States.
"This strategic contract will help to ensure the availability of an alternative natural gas import source which will enable us and other Lithuanian companies to procure natural gas on international markets from various suppliers at any time," says Dominykas Tučkus, general manager of UAB LITGAS.
Statoil will deliver six to seven cargoes to Klaipėda port each year, with the first delivery planned for the end of December.
"This contract marks our first step with LNG business in the Baltic Sea region," said Geir Heitmann, vice president of Statoil LNG Trading and Operations.
"We hope that will evolve into long-term partnership and will bring mutual benefits to both parties."
The European Investment Bank (EIB) helped back the development of the Klaipėda LNG terminal to ensure a reliable supply of the fuel for Lithuania, which is now highly dependent on Russian gas imports.
