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Project Insights

Lithuania boosts exports to neighbours amid low spot LNG prices

The country's Klaipeda LNG terminal has strengthened its position as a regional gas hub after record-high regasification volumes in June The country's Klaipeda LNG terminal has strengthened its position as a regional gas hub after record-high regasification volumes in June.
By Anna Gumbau 12 July 2019 Europe & Russia / LNG 0 34388
The Independence FSRU arriving in Lithuania. (Robertas Dackus)

Lithuania’s 2.2 mtpa Klaipeda LNG terminal is now fully booked until the next gas year ends in October 2020. Lower spot prices and improved efficiency at the facility boosted its utilisation rate to more than 80% in the second week of June, following a trend seen at terminals in other EU member states.

Consequently, gas flows from Lithuania to Latvia hit record levels last month. A total of 90.5 million cubic metres (MMcm) of gas was transported through the Klaipeda-Kiemenai interconnector in June...