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    Reuters: Statoil, Lithuania to Develop Baltic Sea LNG Supply Business

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Summary

Norwegian explorer Statoil and Lithuania's Lietuvos Energija have agreed to start an LNG supply company in the Baltic Sea that will compete with Gasum

by: Erica Mills

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Reuters: Statoil, Lithuania to Develop Baltic Sea LNG Supply Business

Norway's Statoil and Lithuania's Lietuvos Energija plan to join forces to develop a small-scale liquefied natural gas (LNG) supply operation, competing with Finnish gas utility Gasum.

Litgas, an LNG arm of state-owned Lietuvos Energija, and Statoil signed a preliminary agreement on Thursday to establish a joint venture by the end of 2015, Litgas said in a statement.

Read the full article HERE.

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