The agreement calls for Statoil to deliver 540 million cubic metres of natural gas per year to a new floating LNG terminal in Klaipeda, starting in December. The volume corresponds to about 15% of Lithuania’s annual gas consumption, all of which is currently imported from neighbouring Russia.
The Klaipeda terminal is part of a government move to reduce Lithuania’s reliance on piped gas from Gazprom and bring national gas prices down towards the levels seen in Western Europe.
