Litgas, part of the Lithuanian state controlled Lietuvos Energija energy company group, has signed a master trade agreement to enable purchases of LNG from Cheniere Marketing, a subsidiary of Cheniere Energy.
First LNG is expected to arrive in Lithuania as early as 2016.
Dominykas Tuckus, General Manager of Litgas, said: “This agreement entered into with Cheniere is very important – the company is building the first US natural gas liquefaction and export terminal which will be operational late 2015, and will provide us access to the prolific US natural gas market.”
This agreement provides Litgas with LNG supply and pricing diversity from a reliable counterparty.
Litgas has 16 non-binding master trade agreements with companies supplying approximately half of the world’s LNG and also has possibilities to buy natural gas from other Lithuanian importers.
Litgas recently signed a Memorandum of Understanding with Delfin LNG LLC for the first offshore floating liquefaction project in the US.
Adapted from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/02032015/litgas-and-cheniere-marketing-ink-lng-deal-344/