Lithuania’s LDT buys LNG from Statoil

Lietuvos Duju Tiekimas, a natural gas unit of state-controlled energy group Lietuvos Energija, said Friday it has entered into a deal to buy LNG from Norwegian energy giant Statoil.

Under the deal, Lietuvos Duju Tiekimas (LDT) will be purchasing chilled gas from Statoil until October this year, meeting over a half of its gas demand, Lithuania’s LDT said in a statement.

“After assessing the offers received from Gazprom and surveying the participants of the LNG market, we opted for importing over a half of this year’s demand (around 300 million cubic metres) from Statoil through the LNG terminal,” said Mantas Mikalajūnas, CEO of Lietuvos Duju Tiekimas.

“By signing this agreement, we will diversify our supply portfolio and will be able to maintain stable natural gas supply prices, regardless of the Gazprom pricing which had changed in an unfavourable way”, Mikalajūnas added.

Lithuania recently received its seventh LNG cargo from Norway’s Statoil since the country started importing chilled gas in December 2014 in order to reduce its dependence on Russian gas supplies.

The country imports chilled gas via Höegh LNG’s FSRU Independence located in the port of Klaipeda.

LNG World News Staff