LITGAS Signs Deal to Buy LNG from Cheniere Marketing from 2016

Lithuania’s LITGAS has signed a Master Trade Agreement to enable purchases of LNG from Cheniere Marketing, a subsidiary of Cheniere Energy.

‘Cheniere Energy will open the first LNG export terminal in the U.S. in over 40 years later this year, first LNG expected to arrive in Lithuania as early as 2016’ reads the note released on Monday.  

Last week, the company signed a non-binding Memorandum of Understanding with Delfin LNG for gas supplies from the first offshore floating liquefaction project in the US from 2019.  

“This agreement entered into with Cheniere is very important – the company is building the first U.S. natural gas liquefaction and export terminal which will be operational late 2015, and will provide us  access to the prolific U.S. natural gas market”, General Manager of LITGAS Dominykas Tuckus commented.  

The Baltic country is stepping up efforts to become a regional gas hub. Last week, LITGAS obtained the green light to trade in the Estonian gas market without an additional licence by Estonian Competition Authority.