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Statoil, Litgas to develop small scale LNG

LNG Industry,

Litgas and Statoil are currently considering cooperation opportunities in small scale LNG supply and bunkering, and will agree on a partnership in the second quarter of 2015.

“The Klaipeda LNG terminal is the only LNG terminal of such size in the Baltic Sea capable to reload LNG to smaller LNG bunkering vessels, such as bunkering ferries, containerships and other LNG propelled vessels, as well as to supply gas to industrial customers in smaller quantities. As new regulations for sulfur emissions came in to force, ship owners are increasingly looking to LNG as a cleaner fuel. The Klaipeda LNG terminal is closer to our potential clients than other terminals with similar capabilities. We have a competitive advantage from that perspective,” explained Dominykas Tuckus, CEO of Litgas.

According to Tuckus, the company has entered into started discussions with potential clients and is seeking to conclude preliminary agreements.

The demand for LNG in the Baltic region is increasing and both Litgas and Statoil believe that this market will continue to grow. Having already put in place a value chain with access to LNG, ship transport capacity and access to the Klaipeda terminal, Statoil and Litgas believe that cooperation will bring synergies that will benefit small scale LNG distribution in the region.

The opportunity to cooperate in the area of small scale LNG and bunkering areas was included in the five-year LNG supply contract ensuring minimum regasification capacity for the terminal, signed by Litgas and Statoil in August 2014.

Adapted from press release by Katie Woodward

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