Consumers to feel effect of cheaper US gas next year – energmin

Independence FSRU
DELFI / Erikas Skardžius

“Normally, prices are revised every six months. Prices next January may differ from those we have had since July. We will see exact prices after the price commission reviews the entire gas supply portfolio and evaluates all cargoes, not only this one,” the minister said on the Žinių Radijas radio station on Tuesday.

“We have had both cheaper and more expensive cargoes. Thus, it is necessary to put the whole portfolio together and calculate,” he said.

According to the minister, current global natural gas trends make it likely that gas prices will be lower next year.

Meanwhile, Skvernelis says that it cannot be said at the moment that gas prices for households will fall.

“At the moment, there is no possibility to say for sure that (gas prices) will go down,” the prime minister said on LRT Radio on Tuesday.

Mantas Mikalajūnas, CEO of the gas supply and trade company Lietuvos Dujų Tiekimas (Lithuanian Gas Supply, or LDT), said after the first cargo of LNG from the US was delivered to Klaipėda on Monday that he expected cheaper US gas to have an effect on prices for gas consumers starting next year.

Natural gas for household consumers in Lithuania rose by up to 8 percent last July after the expiry of a price discount obtained from Russia‘s gas giant Gazprom in the spring of 2014.

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