Litgas has signed a gas transit deal with Latvian gas transmission grid operator Latvijas Gaze, the Lithuanian gas supply and trading company announced on February 20.
Litgas says it hopes the deal will strengthen its position as a regional gas supplier. The Lithuanian company is pushing against dominant supplier Gazprom to leverage its liquefied natural gas (LNG) platform that started operations at the start of the year.
“Our transit agreement is an important step towards a common and liberalised natural gas market in the Baltic countries”, said Dominykas Tuckus, general manager of Litgas.
Litgas already has contracts to supply Estonian companies Eesti Energia and Reola Gaas with gas from the LNG platform. Litgas became the first competitor to Russia's dominance of the region's supplies after a tough fight against Gazprom.
For the meantime, gas imported from Lithuania is not yet an important part of Estonian imports. It amounted to 8.6% of Estonia’s total imports in January, Estonian grid operator company Elering announced on February 16.
Litgas expects to supply up to 30mn cubic meters of natural gas to Estonia in 2015. Estonia's largescale use of shale oil in its energy mix leaves annual gas consumption at about 700mn cubic metres.
Lithuanian retail giant Maxima Grupe is planning a bond issue worth €300mn-€400mn in order to diversify financing and reduce its dependence on borrowing from banks, Lithuanian ... more
Latvia’s state security service, the Constitution Protection Bureau (SAB), plans to scrutinise a tender to deliver trams to the country’s second-largest city won by a Russian company with ties to ... more
Finland’s Hesburger has opened its first branch in Iran, becoming the first Western burger chain to set up in the country since the 1979 Islamic Revolution. It is located in the Tehranpars district ... more