President of the Republic of Lithuania

Memorandums signed in the U.S. will help reduce Russia’s gas supply monopoly

2018-04-04

Wednesday, April 4, Washington, D.C. President Dalia Grybauskaitė attended the ceremony of signing the memorandums of understanding between Lithuanian and U.S. operators of liquefied natural gas terminals.

The first document was signed by the U.S. company Freeport LNG and Lithuania’s Klaipėdos Nafta and the second by the Lithuanian gas importer Lietuvos Duju Tiekimas. These memorandums – the result of political collaboration of several years – should promote the sales of American liquefied gas in Europe and provide possibilities to purchase it at a lower price for the consumers of the Baltic region.

According to the President, the memorandums on cooperation represent one more step towards getting rid of Russia’s gas supply monopoly that has lasted for six decades. This agreement enhances friendship between Lithuania and the U.S. in the area of energy that is key to both countries as it opens avenues for talks and cooperation on matters of strategic development.

The President also underscored that these memorandums should promote the export of American gas to Europe, enhance economic cooperation between Lithuania and the U.S. and facilitate the joint development of new commercial and investment projects.

The signed memorandums feature a possibility to exchange information on the operation of LNG terminals, commercial environments in Lithuania and the U.S. as well as business development possibilities. Both parties also invite each other to jointly invest in various projects, make use of the existing infrastructure and jointly participate in consortiums.

Freeport LNG is currently transforming its LNG import terminal into a gas liquefaction and LNG export facility. The company plans to begin gas liquefaction by the end of the year.

Lithuania was among the first countries in Europe to begin importing American liquefied natural gas via the Klaipėda terminal. American LNG export to Lithuania and other European countries is an important factor for eliminating Gazprom’s monopoly and ensuring safe and diversified supply of gas.  

Press Service of the President

Last updated 2018.04.04 09:20

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