Norway to overtake Russia as Lithuania’s first gas supplier in 2016

09/02/2016 10:16 Natural Gas


Lithuania will purchase more gas from Norway than from Russia in 2016 after concluding a number of supply deals with Statoil facilitated by its liquefied natural gas (LNG) infrastructure.

Russian gas supplier Gazprom held the monopoly until the end of 2014. To reduce energy dependence on Russia, the Lithuania opened a floating terminal for receiving liquefied natural gas (LNG), which allowed it to obtain gas from Norway. This year the volume of imports of LNG in Lithuania is expected to grow by three times after two new contracts inked with Statoil, the terminal's operator Klaipedos Nafta said on Friday. Prior to the signing of this contract Lithuania was dependent on Russian gas on 100%. Now, Statoil's market share (in Lithuania) will increase to more than 50 percent this year. Under new agreements, supplies via the LNG terminal will boost over 1 billion cubic metres (bcm) in 2016, while total Lithuanian demand is expected to be around 2 bcm. Lithuania is a small market for Gazprom, with its consumption representing for slightly more than 1 percent of Russia's total gas exports to Europe.

Daily (31.03.2020): Oil prices plummeted to 18-year lows on Monday as demand suffers an unprecedented decline

31/03/2020 10:51:00

Crude oil prices crashed to fresh 18-year lows on Monday as growing fears over the coronavirus pandemic eroded demand, while the Saudi Arabia-Russia price war threatened to overload the market. Brent crude collapsed by 8.7% to close at $22.76 a barrel, the lowest settlement since November 2002. Meanwhile, the U.S. WTI crude plunged by 6.6% to end at $20.09 a barrel.


Vestas wins 109MW French fancy

31/03/2020 09:28:00

Vestas has secured a turbine order totalling 109MW from an undisclosed customer in France for an unnamed wind farm.


Poland State Gas Distributor Says It Wins $1.5 Billion From Russia's Gazprom In Price Dispute

31/03/2020 09:23:00

Poland’s largest distributor of natural gas has announced it won a years-long energy-supply price dispute with Russia’s state-run Gazprom worth $1.5 billion at an international arbitration court in Sweden.