Estonia will buy liquefied natural gas from Norway for 300 million euros / Article

Liquefied natural gas will be delivered to the Klaipėda terminal in October and November, the company informed.

Marguss Kēziks, chairman of the board of “Eesti Gaas”, stated that this is one of the biggest deals in the company’s history and that the contracts for future deliveries of liquefied natural gas (LNG) will be concluded next year.

He expressed confidence that natural gas will continue to be one of the most convenient and least polluting fuels.

Although the price of gas will remain high this winter, Kezik predicts that with the transition to LNG and the creation of new supply chains, the market will calm down and prices will decrease and become more stable.

“Eesti Gaas” has received three large LNG deliveries from the Polish state company “PGNiG” in recent months, in May and June, gas tankers arrived at the port of Klaipeda from the USA, and at the end of June, a delivery was received from Norway, which will provide the company’s customers with gas needs until autumn. The new contract with “Equinor” will provide the necessary gas throughout the next heating season.

On the other hand, “Eesti Gaas” delivers natural gas via pipelines as compressed natural gas and as liquefied natural gas. The company also sells electricity to households and companies, as well as develops various energy production solutions.

The sole shareholder of “Eesti Gaas” is “Trilini Energy”, a subsidiary of the Estonian investment company “Infortar”. In Latvia, Lithuania, Poland and Finland, the company works under the “Elenger” brand.

The company manages the largest natural gas network in Estonia.

“Equinor” is an international company in which 67% belongs to the Norwegian state. It is the largest operator on the Norwegian continental shelf and operates in around 30 countries worldwide.

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