Lithuania to Import more Gas from Norway than Russia in 2016
In 2016, Lithuania will import more gas from Norway than from Russia, as stated by the Minister of Energy of Lithuania, Rokas Masiulis, Reuters reports.
Russian Gazprom enjoyed a monopoly on the Lithuanian gas market before the end of 2014, when Lithuania opened a floating liquefied gas terminal. This allowed tankers from Norway to supply gas to Lithuania.
The volume of imports of liquefied natural gas to Lithuania this year is expected to triple following the signing of two new agreements with the Norwegian gas company Statoil. "Taking into account the current plans, Statoil's share in the Lithuanian market this year will exceed 50%," Rokas Masiulis said.
The new agreements provide an increase in the supply of liquefied natural gas to Lithuania of more than 1 billion cubic meters. At the same time, the need for gas in Lithuania is expected to be about 2 billion cubic meters.
"The market share of Gazprom in the future will depend on prices and other commercial conditions. There are no political solutions, gas purchases are a commercial transaction," Masiulis said.