Lithuania is seeking long-term supplies of US liquefied natural gas through its Klaipėda LNG terminal, as it looks to reduce exposure to gas price volatility and strengthen regional supply security, Acting Energy Minister Žygimantas Vaičiūnas said.
Vaičiūnas said he had discussed the prospects for long-term US LNG supplies to Lithuania and the wider region with US Energy Secretary Chris Wright.
The proposed procurement would be the first long-term gas supply contract for Lithuanian consumers linked to the US Henry Hub index, he said. If concluded in the near term, it could support more stable and competitive gas prices from 2027.
“Lithuania, having one of the most efficiently operating LNG terminals in the EU and globally, is constantly looking for opportunities to secure gas supplies at competitive prices,” Vaičiūnas said.
He said the crisis in the Strait of Hormuz had again shown the vulnerability of global gas price stability, while visits to the United States this spring had highlighted the growing potential of US LNG exports and the competitiveness of the US gas pricing formula.
The plan covers three periods: supplying part of Lithuania’s gas demand in 2027–2037; allowing Ukraine to import LNG through the Klaipėda terminal in 2033–2044; and using available terminal capacity in 2027–2032 to supply Ukraine and other regional consumers.
Vaičiūnas said the total potential for LNG deliveries to Lithuania, including cargoes supplied by all market participants under contracts of different durations, could reach up to 100 LNG cargoes.
The Klaipėda LNG terminal, Independence, is operated by KN Energies and was developed more than a decade ago to reduce Lithuania’s dependence on a single gas source.
“Independence gave us what we had not had before – the ability to choose suppliers, operate in a competitive market and eliminate dependence on a single energy source,” Vaičiūnas said.
