Lithuania turns to LNG, picks Hoegh for platform

Mon Jan 23, 2012 12:42pm GMT
 

* Floating LNG platform to have 170,000 cubic meters capacity

* Operations expected to start at the end of 2014

* Terminal to reduce Lithuania's dependence on Russian gas

By Nerijus Adomaitis

VILNIUS, Jan 23 (Reuters) - Lithuania took a step towards less dependence on Russian gas by deciding on Monday to pick Norway's Hoegh LNG to provide an offshore platform for liquefied natural gas (LNG) imports.

Majority state-owned oil terminal Klaipedos Nafta said in a statement that it chose Hoegh to supply a floating storage regasification unit (FSRU), and that operations were expected to start at the end of 2014.

An FSRU is cheaper and faster to build than a fixed LNG terminal on land.

Klaipedos Nafta said that the FSRU had been ordered in South Korea and will have a capacity of 170,000 cubic meters of LNG.

"We can supply about 11 million tonnes of gas per day, which is about the amount Lithuania consumes at a winter day," said Rokas Masiulis, general manager of Klaipedos Nafta.   Continued...

Market Update

  • Africa
  • US
  • Europe
  • Asia
  • CAC40
UK £ USD =1.5710
Euro USD =1.3287
Rand USD =0.1300