Extraordinary Cargo Arrives to Lithuania: the First Shipment of Gas from the USA to Reach the Consumers of the Baltic States Very Soon

This week, natural gas extracted in the USA will reach the houses, businesses, industries, power plants and farmers of Lithuania and other Baltic States. Gas carrier ship Clean Ocean arrived at Klaipėda Seaport this morning carrying the US cargo of liquefied natural gas (LNG), the first in the Baltic States and one of the first in the Eastern and Central Europe, that was purchased by a natural gas trading company Lietuvos Dujų Tiekimas from the USA-based company Cheniere Marketing International under the contract signed in June.

 

After reloading the liquefied natural gas to Independence, the LNG storage and regasification unit operated by Klaipėdos Nafta, its release to the Lithuanian natural gas system will be started as soon as in the middle of the next week. Lietuvos Dujų Tiekimas will store some of the gas in Inčukalns Underground Gas Storage Facility and will supply them to clients in Latvia.

 

According to Žygimantas Vaičiūnas, the Lithuanian Minister of Energy, this cargo will further increase the energy independence of Lithuania and the whole region.

 

“Events like this deserve a separate entry in the pages of energy history. In addition to being the most important strategic partner of Lithuania, today the USA also becomes a reliable LNG supplier for the whole region. This strengthens the partnership and energy independence and also intensifies the competition between gas suppliers, which will warrant even better gas prices for the consumers of Lithuania and the whole region”, says Minister Vaičiūnas.

 

According to Vilius Šapoka, the Minister of Finance, good results were achieved through consistent work and strategic approach.

“The first US cargo of LNG that has reached Lithuania today is the result of gas supply diversification strategy implemented by Lietuvos Energija Group. Through consistent optimisation of supply, Lietuvos Energija has already managed to reduce gas prices for Lithuanian residents, while this transaction will undoubtedly contribute to even higher value for country`s economy and will strengthen the strategic partnership and cooperation of Lithuania and the US”, says Minister Šapoka.

 

Dr. Dalius Misiūnas, the CEO of Lietuvos Energija that has purchased the cargo, says that it is a sign that, in the global LNG market, Lithuania with Lietuvos Energija Group is considered a reliable partner and an attractive market.

 

“We have been observing the situation of the USA that has a high LNG potential since 2014. We are glad that Lithuania received one of the first US cargos of LNG in the Eastern and Central Europe. This recognition will help us to diversify the supply and offer the best prices for our clients in Lithuania and other Baltic States”, says Dr. Dalius Misiūnas, the CEO of Lietuvos Energija.

 

Jack Fusco, President and CEO of Cheniere Energy, predicts that it could be the beginning of a symbiotic relationship.

 

“We are pleased to deliver the first cargo of US LNG to Lithuania, providing reliable, competitive and flexible natural gas from the United States. Lietuvos Dujų Tiekimas has been an excellent partner in this endeavor, and we look forward to continuing that relationship to benefit their customers”, says Jack Fusco, President and CEO of Cheniere Energy.

 

Mindaugas Jusius, the CEO of AB Klaipėdos Nafta, says that irreversible changes of LNG market took place earlier than expected.

 

“If six, five or even two years ago we used to think that in the near future the US could become the exporter of LNG, possibly to Lithuania as well, this way ensuring the energy security of Lithuania and competitive prices in the Lithuanian gas market, today we can state for a fact that the global LNG market has irreversibly changed due to Cheniere. The Baltic natural gas market has been equally irreversibly changed by Klaipėda LNG terminal: it created energy independence, opened the Baltic gas market, and ensured an alternative energy source option at competitive market prices”, says Mindaugas Jusius, the CEO of AB Klaipėdos Nafta, emphasizing the importance of the event.