EQT Secures Long-Term LNG Deal with Lithuanian State-Backed Ignitis

EQT has expanded its reach in the European liquefied natural gas (LNG) market by signing a 10-year supply deal with Lithuania's state-owned energy company Ignitis. The agreement, which will begin in 2027 and run through 2036, commits EQT to delivering one LNG cargo annually to Ignitis.

The terms of the deal link pricing to two major benchmarks: Henry Hub in the US and TTF (Title Transfer Facility) in Europe. This means that the cost of the LNG will fluctuate according to changes in these global prices.

The announcement marks a significant step for EQT, which is seeking to increase its presence in the European LNG market. Lithuania's Ignitis has also secured a long-term supply agreement, ensuring a stable source of fuel for the country's energy needs.