Gasum secures LNG terminal capacity in Klaipeda through 2040

Energy company Gasum has secured a long-term reservation of liquefied natural gas (LNG) terminal capacity at the Klaipeda LNG terminal in Lithuania. The agreement, which runs from 2033 to 2040, strengthens Gasum's ability to supply LNG and liquefied biomethane (bio-LNG) to the markets in Northwestern Europe.

The Klaipeda terminal has been part of Gasum's supply chain, serving as a reloading point for its own gas and bunker vessels, and supporting its natural gas operations in Finland and the Baltic countries. Its strategic location also complements Gasum's LNG terminal network in Sweden, Finland, and Norway, and will be used to serve maritime customers near the Danish straits.

"Securing capacity at Klaipeda supports Gasum’s strategic long-term supply capability and gives us flexibility in optimizing deliveries to our terminal network and maritime customers. It also underpins our commitment to being a dependable partner in the energy transition," stated Anders Malm, Senior Vice President, Supply & Trading, Gasum.

Demand for LNG and bio-LNG is anticipated to grow, particularly in the maritime sector, as the number of LNG-powered vessels increases and the industry faces pressure to adopt low-emission fuels. Gasum also sees potential in utilizing the Klaipeda capacity for virtual liquefaction of biogas, enabling further reductions in customers' lifecycle emissions.