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Lithuania signs MOU with U.S. gas firm

Xinhua, February 28, 2015 Adjust font size:

LITGAS, the Lithuanian state-controlled natural gas supply and trading company, signed a memorandum of understanding with Delfin LNG, a U.S. company, the Energy Ministry of Lithuania said Friday.

According to the Ministry, although the document does not mean entail any obligation to sell or purchase natural gas, it forms a base for cooperation with Delfin LNG. The company currently develops the first floating liquefaction and export facility in the United States.

"It is planned that the Delfin LNG facility to be built in a deep water port in Louisiana will start operating in 2019," said the Ministry in a statement.

The Ministry says Lithuania is trying to "negotiate the best possible terms of LNG exports before any other potential buyers."

LITGAS is expected to sign a second agreement in regards to natural gas supplies this week.

The memorandum was signed during Lithuanian Energy Minister Rokas Masiulis' visit to the United States.

The minister is paying a visit to secure political support from U.S. officials for natural gas exports for the new liquefied natural gas (LNG) terminal in Klaipeda seaport, which started operations at the end of 2014.

Natural gas from the United States would help Lithuania diversify its natural gas supplies.

The new Lithuanian LNG terminal in Klaipeda is currently being supplied by Statoil. A five-year agreement signed last year ensures Lithuania will receive 950,000 cubic meters of LNG, equivalent to 540 million cubic meters of natural gas annually.

LITGAS declared having 15 non-binding agreements with worldwide gas companies to buy natural gas for other Lithuanian importers. Endit