Lithuania signs contract with US to buy gas within 10 years
The contract for the supply of natural gas, designed for 10 years, was signed by Lithuania and the American corporation EQT. Illustrative photographic ...
The contract for the supply of natural gas, designed for 10 years, was signed by Lithuania and the American corporation EQT.
This is reported by TASS with reference to the Ministry of Energy of the Baltic Republic.
The contract signed by the state-managed energy company Ignitis with EQT Corporation provides for annual supplies of about 1 TWh of gas in the period 2027-2036. This amount covers 40% of Lithuania’s natural gas needs.
- This is a concrete step to reduce our vulnerability in this area. In the event of an unexpected rise in gas prices in the European market, less dependence will help mitigate the consequences for Lithuanian consumers, Energy Minister Lucas Savickas said.
Lithuania buys LNG from Norway and the United States, and can also receive natural gas via pipeline from Poland. The republic places gas reserves in a storage facility in Inchukalnis in Latvia.
