Equinor to supply six LNG cargoes to Latvenergo

Norway’s Equinor will supply six liquefied natural gas (LNG) cargoes under a new medium-term deal to Latvia’s Latvenergo via Lithuania’s Klaipeda FSRU-based terminal.

State-owned power and natural gas company Latvenergo announced on Thursday it has concluded a tender for the medium-term supply of LNG for 2024–2026.

Under the deal, Equinor will supply two LNG cargoes each year to Latvenergo for a total of six LNG cargoes or about six terawatt hours (TWh) of gas over the period.

According to Latvenergo, this deal guarantees the security of supply of natural gas to the CHPP for power and thermal energy generation, as well as for the sale of natural gas to customers in the Baltics.

Last year, Latvenergo secured regasification capacity for a period of ten years at the Klaipedos Nafta-operated FSRU-based facility in Klaipeda, Lithuania.

The capacity booking is for 6 TWh per year or about six LNG cargoes per year.

In March last year, Latvenergo also bought LNG cargoes for delivery via Klaipeda as part of plans to secure additional supplies due to the Russia-Ukraine war.

According to Latvenergo, the firm completely stopped purchasing natural gas from Russia in February 2022.

Latvenergo’s chief commercial officer, Dmitrijs Juskovecs, said “the decisions made last year are paying off – both in the use of the Klaipeda terminal and in building relationships with suppliers to ensure stable and secure supplies, both in time for this season and in readiness for the next three years.”

“We have secured an a very attractive agreement with clear supply conditions with a reliable supplier that has supplied LNG into the Baltics since imports started in 2014, and with the pricing reflecting European market prices through the period,” he said.

Most Popular

Crown LNG, Fermeuse plan export project in Canada

US-listed Crown LNG and Fermeuse Energy revealed plans to build a liquefaction and export facility worth up to $15 billion in the Canadian province of Newfoundland and Labrador.

Sawgrass LNG & Power secures Barbados supply deal

Miami-based Sawgrass LNG & Power has once again been selected as the supplier of LNG to Barbados National Energy Company (BNECL).

Woodfibre LNG says project cost climbs to $8.8 billion

Canada’s Woodfibre LNG, a joint venture of Pacific Energy and Enbridge, now expects that the construction of its 2.1 mtpa LNG export facility near Squamish, British Columbia, will cost $8.8 billion. Woodfibre LNG initially expected the construction of the facility would cost $5.1 billion.

More News Like This

Deutsche ReGas: BASF, Equinor book Mukran regas capacity

German chemicals giant BASF and Norwegian energy firm Equinor have booked long-term regasification capacity at the Deutsche ReGas-operated FSRU-based LNG import facility in Mukran, Germany.

Equinor resumes Hammerfest LNG ops

Norway’s Equinor has restarted its 4.3 mtpa Hammerfest LNG export plant following an unplanned shutdown over the weekend.

Equinor’s Hammerfest LNG back online after maintenance

Norwegian energy firm Equinor has resumed operations at its 4.3 mtpa Hammerfest LNG export plant following an extended maintenance shutdown, a spokesperson for Equinor told LNG Prime on Monday.

MOL, Equinor name LNG-powered VLCC

Japan's shipping giant MOL has named an LNG dual-fuel very large crude carrier which will serve Norway's Equinor under a charter deal.