Lithuania Locks in Long-Term LNG Deal for Residential Consumers

Ignitis Group has announced a long-term liquefied natural gas (LNG) deal with EQT Corporation's subsidiary, under which it will purchase LNG for residential consumers in Lithuania from 2027 to 2036.

The agreement was reached after a tender process initiated by Ignitis on August 25, 2026. The winning bid submitted by the EQT subsidiary included purchasing 10 LNG cargoes totaling approximately 1 terawatt-hour per year.

Pricing under the contract is linked to two benchmarks: the U.S. Henry Hub and the European TTF. This change in pricing methodology has been approved by Lithuania's National Energy Regulatory Council, allowing Ignitis to incorporate costs from both short-term and long-term contracts when setting residential natural gas prices.