Lithuania signs 10-year US LNG supply agreement

Lithuania has signed a 10-year agreement with the United States to receive one liquefied natural gas cargo each year, LRT reported. President Gitanas Nausėda said the deal marked another step in transatlantic cooperation and reflected a path Lithuania wanted to continue pursuing.

Nausėda made the remarks at a Lithuania-US business forum on resilience organised by Lithuania’s consulate general, the Baltic American Chamber of Commerce and the American Lithuanian Business Council.

The agreement will diversify Lithuania’s natural gas supply sources, reduce dependence on the TTF index and create conditions for more stable prices for household consumers, according to the report.

It is the first long-term LNG supply agreement in the Baltic states intended to meet household needs and based on US Henry Hub pricing.

The president said the United States was a reliable partner and NATO ally that played an important role in Lithuania’s defence and energy security. He said energy security was inseparable from national security and required resilience and protection of critical infrastructure.

Nausėda also invited US businesses to explore new opportunities in Lithuania’s economy and energy sector.