Lithuania's Ignitis Secures Long-Term LNG Deal with EQT Corp.
Ignitis has entered into a long-term liquefied natural gas (LNG) purchase agreement with a subsidiary of EQT Corp. for the period 2027-2036. The deal is part of Ignitis' effort to meet the needs of residential natural gas consumers in Lithuania and contribute to the diversification of natural gas supply sources.
The contract will commit Ignitis to purchasing 10 LNG cargoes, with each cargo amounting to approximately 1 TWh/y. The pricing under the agreement is linked to two international natural gas price benchmarks: the US Henry Hub and the European TTF index.
The deal is subject to review by the Commission for the Coordination of the Protection of Objects Important to National Security, as required by Lithuanian law. Additionally, the completion of the transaction requires approval from EQT Corp.'s corporate governing bodies.