"Signing of the contract between Statoil and Litgas is expected on Thursday. I cannot disclose any details yet, we will provide more information at a news conference," told Paulius Jakutavicius, spokesman for Litgas.
According to informal information, Statoil and Litgas will not establish a joint enterprise, which was considered earlier. Statoil should sell LNG via the Lithuanian LNG terminal of Klaipeda, filling LNG-powered vessels in the Baltic Sea and supply gas to smaller terminals that cannot accept big gas carriers, while Litgas should only balance the gas flows.
Development of the joint small-scale LNG business was envisaged in the LNG acquisition contract signed back in 2014, while the preliminary agreement on establishment of the joint enterprise was signed in the summer of 2015.
Another company planning to engage in small-scale LNG trade is Blue LNG, a joint company of Lithuania's Klaipedos Nafta (Klaipeda Oil) and Germany's Bomin LNG.
