Statoil to Supply Small-scale LNG to Baltics

Norway's Statoil (STO) will supply small-scale liquefied natural gas (LNGLF) (LNG) to terminals in the Baltic Sea through Lithuania's Klaipeda LNG terminal, a company official said on Thursday.

The move comes after the energy firm signed an agreement on Thursday with Litgas and Lietuvos Duju Tiekimas, gas trading subsidiaries of Lithuanian state-owned energy group Lietuvos Energija, to balance the gas supplies at the Klaipeda terminal.

"If I'm sitting here in five years and this is a success story, I hope that we are churning three to five conventional cargos annually into this market", Statoil's head of LNG operations Ingvar Skogseide told reporters.

Reporting by Andrius Sytas