Lietuvos Duju Tiekimas inks LNG supply deal with Koch Supply & Trading

Lithuania’s Lietuvos Duju Tiekimas (LDT) said it has entered into a supply agreement with Koch Supply & Trading, a trading unit of Koch Industries, for the purchase of LNG in 2017.

The supply volume will enable LDT, a natural gas unit of state-controlled energy group Lietuvos Energija, to meet more than a third of its expected demand for 2017, approximately 2 TWh, the company said in a statement.

Cargoes under the contract with Koch Supply & Trading will be delivered to Höegh LNG’s FSRU Independence serving as Lithuania’s import terminal in the port of Klaipeda.

Earlier this year, LDT booked LNG regasification capacities of 825,100,000 kWh for a period from October 1 to December 31, 2016, at the terminal.

LDT noted in its statement, that the agreement also allows the company to diversify procurement sources and ensure the reliability of natural gas supply.

Previously, all deliveries to the FSRU Independence were strictly for Litgas, also a part of state-controlled energy group Lietuvos Energija. However, as of February this year, the imported volumes are split between Litgas, Lietuvos Duju Tiekimas, and Lithuanian fertilizer producer Achema.

LNG World News Staff