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Tuesday, 23.04.2024, 09:23
Lithuania's Statoil and Norway's Litgas reach agreement on LNG business model
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"Signing of the contract between Statoil and Litgas is
expected on Thursday. I cannot disclose any details yet, we will provide more
information at a news conference," told Paulius Jakutavicius, spokesman for Litgas.
According to informal information, Statoil and Litgas will
not establish a joint enterprise, which was considered earlier. Statoil should sell LNG via the
Lithuanian LNG terminal of Klaipeda, filling LNG-powered vessels in the Baltic
Sea and supply gas to smaller terminals that cannot accept big gas carriers,
while Litgas should only balance the
gas flows.
Development of the joint small-scale LNG business was
envisaged in the LNG acquisition contract signed back in 2014, while the
preliminary agreement on establishment of the joint enterprise was signed in
the summer of 2015.
Another company planning to engage in small-scale LNG trade
is Blue LNG, a joint company of
Lithuania's Klaipedos Nafta (Klaipeda
Oil) and Germany's Bomin LNG.
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