Lithuania Inks First Statoil LNG Deal
Lithuania seeks to cut dependence on Russia; Statoil to supply 0.54 bcm of gas per year. This will cover about 20 pct of Lithuania's demand. Lithuania signed its first liquefied natural gas purchase deal with Norway's Statoil on Thursday, helping the country to reduce its total dependence on Russian supplies. The Baltic state plans to import 0.54 billion cubic metres (bcm) of gas from Norway from 2015, enough to meet about one-fifth of its total consumption. The gas will supply a floating LNG terminal, named the "Independence". The total value of the contract is estimated at a little over $1 billion and the LNG price is linked to Britain's National Balancing Point (NBP) gas hub, Lithuanian importer Litgas said.
Gazprom files lawsuit in Stockholm arbitration for $ 4.5 bln
Gazprom filed a lawsuit in Stockholm International Arbitration Court seeking to recover USD 4.5 billion in debt from Naftogaz of Ukraine due to the company's non-compliance with obligations under Contract No. ?? dated January 19, 2009 for natural gas purchase and sale between 2009 and 2019 (Contract), as well as its considerable outstanding debt for natural gas supplied under the Contract and non-payment of current supplies. Starting from 10:00 am (Moscow time) on June 16, 2014, Gazprom will supply Naftogaz of Ukraine with natural gas only in prepaid volumes according to contractual terms. In this respect, Naftogaz of Ukraine is obliged to secure natural gas transit to third countries in full compliance with terms of the effective Contract No. ????
