Lithuania expands LNG supplies

Source: Xinhua| 2017-06-27 03:09:06|Editor: huaxia
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VILNIUS, June 26 (Xinhua) -- Lithuanian state-owned gas supply and trading company Lietuvos duju tiekimas announced on Monday it has signed an agreement and purchased a liquefied natural gas (LNG) cargo from the U.S. amid efforts to diversify gas supplies.

The terms of the agreement and the size of the LNG cargo with U.S. company Cheniere Marketin International haven't been disclosed.

Zygimantas Vaiciunas, Lithuania's energy minister, said the contract is a historic moment amid efforts to diversify energy sources and use LNG supplies for commercial purposes.

The LNG cargo is to be delivered to Lithuania's LNG terminal in Klaipeda seaport. Part of the natural gas bought for a lower price in summer will be stored in Incukalns natural gas storage facility in neighboring Latvia, according to the company.

Recently, Lithuania has been proposing its neighboring Baltic countries to cooperate in energy field by joining gas infrastructure so as to bring down energy prices.

By purchasing natural gas in summer and storing it in Incukalns storage facility, Lietuvos duju tiekimas aims to benefit from seasonal fluctuations of gas prices.

"U.S. natural gas suppliers have been increasing their supplies to the global market, and this is beneficial for our country's competitiveness and for the natural gas consumers seeking to reduce their energy costs," Dalius Misiunas, head of the state-owned energy company group Lietuvos energija, was quoted as saying in a press release.

Lietuvos duju tiekimas is part of Lietuvos energija.

Lithuania has been trying to attract new natural gas suppliers and expand its suppliers' geography since the start of LNG terminal's operations in 2015.

The Baltic State aims to diversify its energy sources and reduce reliance on Gazprom, previously Lithuania's sole supplier of natural gas. Enditem