Lithuania Sidesteps Russia For Norway LNG

GALWAY, IRELAND--September 3, 2014 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) Lithuania has signed a contract with Norway's Statoil ASA (NYSE:STO) (Stavangar, Norway) for the delivery of liquefied natural gas (LNG) over the next five years.

The deal, signed by LITGAS which is the gas division of state-owned Lietuvos Energija, is designed to reduce the country's 100% dependence on gas imports from neighbouring Russia and its state-owned firm, OAO Gazprom (PINK:OGZPY) (Moscow, Russia).