Lithuania Seeks Gas Supplies From Statoil for LNG Terminal

Lithuania is in talks with Norway’s Statoil ASA over possible liquefied natural gas supplies for the country’s gas terminal on the Baltic sea, the Lithuanian energy ministry said.

Gas tankers from Statoil’s Snohvit export terminal would reach Lithuania’s Klaipedos Nafta AB LNG terminal within five days, which is an attractive alternative because of lower transportation costs, the ministry in Vilnius said in an e-mailed statement today.

Klaipedos Nafta, which is 70.63 percent owned by the state, plans to begin operations at a floating LNG terminal at the end of 2014. Klaipedos is also in talks with other potential gas suppliers such as the State Oil Company of Azerbaijan, known as Socar, Spain’s Gas Natural Fenosa and Cheniere Energy Inc. of the U.S.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE