Litgas Eyes LNG Market

  • Business & Finance

Lithuanian natural gas supply and trading company Litgas is planning to enter a small scale LNG supply and bunkering market with Statoil.

The companies are currently analyzing cooperation opportunities and plan to agree on the form of cooperation within the second quarter this year.

”The Klaipeda LNG terminal is the only LNG terminal of such size in the Baltic Sea capable to reload LNG to smaller LNG bunkering vessels,” said Dominykas Tuckus, CEO of Litgas. ”The Klaipeda LNG terminal is closer to our potential clients than other terminals with similar capabilities. We have a competitive advantage from that perspective.” 

According to Tuckus, Litgas already started discussions with potential clients and is seeking to conclude preliminary agreements.

The opportunity to cooperate on small scale LNG and bunkering areas was included in the 5-year LNG supply contract for the Terminal signed between Litgas and Statoil in August 2014.

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