LNG commissioning cargo will be realized on the gas exchange

On 9 September of this year LITGAS, UAB announced, about their plans to start selling process of the natural gas needed for LNG terminal commissioning soon. Estimated total selling volume of natural gas (approx. 50 million m³) will be realized using natural gas exchange instrument. The commissioning cargo delivered to Klaipėda port by LNG vessel will be supplied by Norwegian company Statoil, which is the winner of LITGAS, UAB tender. “We chose the most transparent way for selling natural gas – the natural gas will be sold through natural gas exchanges, to all who wish to purchase the natural gas will be created equal conditions. We invite all market participants to estimate their possibilities and actively participate in. “- says Dominykas Tučkus general manager of LITGAS, UAB.

Haroldas Nausėda the CEO of GET Baltic, UAB endorsed general manager of LITGAS, UAB: “By selling the natural gas used for LNG terminal commissioning on the exchange will be created opportunities to purchase gas for all natural gas market participants, which are registered on the exchange. At this moment consumed and shipped volume by the participants of GET Baltic is 90 per cent of annually consumed volume in Lithuania. It means that the biggest part of the market is already set to participate in this trading. The decision to realize the gas on the exchange taken by LITGAS, UAB is excellent news for all market participants and one more important factor stimulating the development of the market”

LITGAS, UAB is registered on the gas exchange of GET Baltic since July of this year. On 10 February of 2014 UAB LITGAS was approved as a designated supplier by the Minister of Energy, in order to keep uninterruptible operation of LNG terminal in Lithuania. On 27 December of 2013 National Commission for Energy Control and Prices issued the supply license granting the right to sell natural gas.

Today, there are 36 exchange participants registered on the gas exchange of GET Baltic. Since the beginning of the activity the total traded volume is 113.21 million m³ (roughly 57.59 million m³ in 2013 and 55.62 million m³ during 8 month of 2014.)

If you are going to become a participant of the exchange, for more information please take a look at the section How to Become the Participant of the Exchange. Also, please feel free to contact us by phone: +370 5 236 0000 or by e-mail: [email protected].