Lithuania eagerly awaits first LNG terminal
Vilnius, Lithuania
AS much of Europe anxiously awaits a Ukraine-Russia deal to avert the risk of winter gas cuts, Lithuania is breathing a sigh of relief as its first liquefied natural gas (LNG) terminal will sever Moscow's grip on gas deliveries to the Baltic states.
Aptly dubbed "Independence", the massive floating LNG facility measuring three football fields in length is due to dock in the port of Klaipeda on Oct 27. Its arrival comes just as Russian President Vladimir Putin warned that Europe faces "major transit risks" to gas supplies coming from Russia this winter unless Ukraine resolves a gas dispute with Moscow.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil settles higher as weak US economic growth offset by supply concerns
India's Vedanta misses Q4 profit estimates on lower prices
BHP targets Anglo American in bid valuing miner at US$39 billion
China's Sinopec charts global expansion with refinery in rival India's backyard
Gold trades in tight range as market focuses on US economic data
Oil settles lower as US business activity cools, concerns over Middle East ease