Energy, Gas, Gas Market , Industry, Lithuania

"According to preliminary calculations, Achema plans to purchase more than 1 bln cubic meters of gas this year, however, the exact amount will depend on whether the fertilizer prices are favorable in the fourth quarter of 2017 and the capacity of Achema. Depending on this, we will buy about 45% of the necessary gas from Statoil via the terminal," Audrius Bendaravicius, CEO of the Achema Group, told the daily.

In his words, Achema bought about 0.7 bln cubic meters of gas from Statoil in 2016, i.e., more than Russia's Gazprom. Achema uses most gas in the first and the first quarter.

"We always buy more via the terminal in the summer season – it is more beneficial this way," he said.

Achema's financial results will this year depend on changes on the global fertilizer market, said Bendaravicius, noting that the company's competition would depend on modernization projects.