Lithuania's security of supply has been secured with its LNG terminal in Klaipeda, Jusius Mindaugas, CEO of Lithuania's LNG operator Klaipedos Nafta said Monday.
More than 50 percent of Lithuania's total imported gas in 2016 came through Klaipeda's LNG terminal, Mindaugas said speaking at the 9th Baltic Energy Summit in Lithuania's capital Vilnius.
The purpose of the terminal is security of supply in which they will be able to 'easily access LNG in various places all around the world.'
'It's clear that there is trend and LNG market is growing,' he said, adding that the 'terminal is now operating with high capacity. More than 50 percent of total gas last year was imported through LNG.'
During the year, Lithuania received four cargoes from different continents in North America, South America, Europe and Africa, he said.
'In fact we already benefit from the global LNG market. Gas from our terminal already reached Norway, Sweden, Finland, Estonia and Poland as well,' he said.
- Worst times over with Lithuania's over-dependence on Russia gas
Vytautas Cekanavicius, CEO of Litgas speaking at the same session declared the worst times are over for Lithuania in terms of security of energy supplies.
Lithuania started importing LNG in December 2014 to reduce its dependence on Russian gas.
'The times when we were paying high prices for gas to Russia is also over. Our companies are looking for alternatives. What we see is that during the last three years, consumption is quite stable,' Cekanavicius said.
He declared that Lithuania is now enjoying success from the LNG terminal, but said that this success came with hard work and months of negotiation convincing LNG suppliers to engage in trade.
'Now it's much easier and trade in spot transactions is possible,' he explained.
Currently, Lithuania's gas demand is around 2.5 billion cubic meters while the LNG terminal receives its main cargo from Norway.
In 2012, Lithuanian gas demand was more than 3 billion cubic meters, he said.
By Murat Temizer in Vilnius, Lithuania
Anadolu Agency
energy@aa.com.tr