Litgas and Statoil offer vessel bunkering services

Teaming up with Statoil, Litgas is trying to get more usage out of its under-used floating LNG regasification terminal

Trying to squeeze more value out of its under-used floating LNG regasification terminal, Lithuania’s state-owned Litgas is looking to set up a joint venture with Statoil later this year to offer vessel bunkering and lorry tankering services. Statoil said the Baltic small scale LNG market could become commercially attractive once all the relevant regulatory and corporate approvals are in place and the final investment decision taken. The parties expect it to reach between 500m m³ and 1bn m³ (regasified) by 2020. The JV would be well positioned to supply this growing market and could start up in 2017, they said 2 July. Statoil sells up to 400,000 t/y to Litgas, the minimum required to keep it