Lithuania Secures Decade-Long US Gas Deal

Lithuania has secured a decade of US natural gas supplies through a long-term agreement between Ignitis and EQT Corporation. The deal, signed on September 21, will provide Lithuania with 10 liquefied natural gas (LNG) cargoes between 2027 and 2036.

The cost of gas for Lithuanian residents will be linked to the US Henry Hub index, a move aimed at reducing dependence on European prices. This will help cushion the impact on consumers' bills if gas prices suddenly spike on the European market.

Ignitis CEO Andrius Kavaliauskas stated that this agreement is an important step towards strengthening the security and flexibility of natural gas supplies for Lithuanian residential customers. It will allow them to diversify their sources of supply, manage price fluctuation risks more effectively, and ensure more stable supply conditions over the longer term.