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Independence Day - Lithuania's got LNG
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Report summary
The arrival of the Independence FSRU today marks an important milestone in reducing Lithuania's reliance on Russian gas. A recently signed 5-year contract with Statoil, priced at NBP plus a premium, will see up to 0.5 bcm/year of LNG delivered to the terminal. This is the first LNG regas terminal in the Baltic region and has allowed Lithuania to secure cheaper gas from Russia even before the terminal has started up. FSRUs provide a fast-track opportunity for other markets to follow suit.
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