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Statoil to Supply Gas to Lithuania in Five-Year Deal

Lithuanian gas supplier Litgas said Thursday it has signed a five-year deal with Norway’s Statoil AS A to deliver 540 million cubic meters of natural gas annually from 2015, a move that could put an end to Lithuania being wholly dependent on Russian gas. "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," said Dominykas Tuckus, general manager of UAB Litgas. The Baltic nation is currently dependent on Gazprom for 100% of its gas, and Lithuanians have been paying 15% higher than the European average gas price. Concerns about price and energy security have prompted Lithuania to lease a ship—dubbed ‘Independence’—that will allow it to process liquefied natural gas from non-Russian sources and deliver it to Lithuanian customers at potentially lower […]

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