Lithuania secures decade-long US gas supply deal

Lithuania has secured a decade-long liquefied natural gas (LNG) supply agreement with the United States to enhance energy security and stabilize consumer costs. The state-owned energy company Ignitis signed the contract with U.S. producer EQT Corporation, covering the period from 2027 to 2036.

Under the terms of the agreement, Ignitis will purchase ten annual LNG cargoes, each containing approximately 1 terawatt-hour (TWh) of energy. This volume is expected to cover roughly 40 percent of the annual natural gas demand for Lithuanian households.

A key feature of the deal is the integration of the U.S. Henry Hub index into the pricing structure alongside the European TTF index. By diversifying the pricing benchmarks, the Lithuanian Ministry of Energy aims to reduce the country's vulnerability to sudden price spikes on the European gas market, providing more predictable costs for residents.