Bank Of Baku

Lithuania refuses Russian gas

Lithuania refuses Russian gas
# 12 May 2011 16:46 (UTC +04:00)
Baku. Ali Ahmedov – APA-Economics. Lithuania intends to refuse expensive Russian gas, Energy Minister stated.

According to Minister Arvydas Sekmokas, US Cheniere Energy Cmpany offers cheaper gas than Gasprom’s. This company engages in extraction of shale gas.Lithuanian Klaipedos nafta Company and Cheniere Energy have signed a protocol of intention on procurement of compressed gas: “This gas is cheaper 30% than Gasprom’s gas”.

Experts consider this agreement completely real. UBS company’s expert says the US gas price is cheaper than European gas price - $150/thousand cm: “Even, taking the transportation prices into consideration (90-110 USD) US Company can sell the gas to Russia cheaper than Gazprom. Gazprom sells the gas to Europe for $ 350-370”.

Compressed gas terminals and gas pipeline linked it will be constructed here. The construction will be started in 2011. The capacity of terminal will be 1.5-2.2 mcm of compressed gas.
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