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LNG terminal to offer solution for Lithuania

Staff writer |
A Lithuanian liquefied natural gas (LNG) terminal will offer a way out for the Lithuania if negotiations with Gazprom regarding gas prices are not successful, Lithuanian Energy Minister Rokas Masiulis said.

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"Even if the talks (with Gazprom) are not too successful, we already have a way out," he told reporters in Vilnius after meeting President Dalia Grybauskaite.

Lithuania's current contract with Gazprom on gas supplies will expire at the end of 2015.

Lithuania's LNG terminal is to launch operations on December 3 this year.

The Baltic nation is currently dependent on Russia for 100 percent of its natural gas. Lithuanians have been paying 15 percent higher prices than the European average for gas.

Lithuania expects that the LNG terminal will allow the country to import gas from non-Russian sources and increase its energy independence.

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