Ignitis Plans 10-Year LNG Deal With EQT Unit
Lithuanian energy supplier Ignitis plans to enter a long-term LNG purchase agreement with a subsidiary of EQT Corporation covering 2027 through 2036, with one cargo of approximately 1 TWh to be purchased each year.
By Carolina Curiel
Published September 11, 2026
What Readers Should Know
- The planned agreement covers LNG deliveries from 2027 through 2036.
- Ignitis will purchase 10 LNG cargoes in total, with one cargo of approximately 1 TWh each year.
- The supply is intended primarily for residential natural gas consumers in Lithuania.
- Pricing will be linked to both the U.S. Henry Hub and European TTF natural gas benchmarks.
- The transaction remains subject to national-security review in Lithuania and approval by the supplier’s corporate governing bodies.
Ignitis Selects EQT Subsidiary for Long-Term LNG Supply
MONTREAL (Oil Monster): Ignitis plans to enter a long-term liquefied natural gas purchase agreement with a subsidiary of EQT Corporation following a tender for long-term LNG supply launched on August 25, 2026.
The EQT subsidiary submitted the best offer in the tender process. EQT is one of the largest natural gas producers in the United States and is expanding its activities across the LNG value chain and international supply markets.
Agreement Covers 10 LNG Cargoes Through 2036
The planned agreement will run from 2027 through 2036.
Under the arrangement, Ignitis will commit to purchasing 10 LNG cargoes in total, with one cargo of approximately 1 TWh to be supplied each year.
LNG Supply Targets Lithuanian Residential Consumers
The long-term LNG purchase agreement is intended to support the needs of residential natural gas consumers in Lithuania.
Ignitis said the agreement is expected to diversify natural gas supply sources, improve supply flexibility, help manage natural gas price volatility and provide more stable supply conditions for residential consumers.
Pricing Linked to Henry Hub and TTF
Pricing under the agreement will be linked to two major international natural gas benchmarks: the U.S. Henry Hub and the European TTF index.
Recent amendments approved by Lithuania’s National Energy Regulatory Council, or NERC, allow Ignitis to consider prices under both short-term and long-term contracts when developing its household natural gas supply portfolio.
The methodology also allows a broader range of international price benchmarks to be used when regulated natural gas prices for residential consumers are established.
Ignitis submitted its justification for the agreement to NERC before proceeding with the contract.
Transaction Still Requires Approvals
The transaction will be submitted to Lithuania’s Commission for the Coordination of the Protection of Objects Important to National Security for review.
Completion is also subject to approval by the LNG supplier’s corporate governing bodies.
Ignitis said it will issue a separate material-event notification if circumstances arise that could materially affect execution of the agreement.
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Courtesy: www.lngindustry.com