The agreement supports Gasum’s long-term strategic ambition to be a reliable partner in the energy transition.

Gasum has secured LNG terminal capacity at the Klaipeda LNG terminal in Lithuania for the period 2033–2040. The long-term capacity reservation supports Gasum’s ability to supply the Northwestern European market with liquefied natural gas (LNG) and liquefied biomethane (bio-LNG) over the coming decade.

The Klaipeda terminal has been a part of Gasum’s supply chain for some time already. Gasum uses the Klaipeda terminal primarily as a reloading point for its own carrier and bunker vessels, but also to support the company’s natural gas operations in Finland and the Baltic countries.

Klaipeda is well located regarding the company’s own LNG terminal network in Finland, Sweden, and Norway. Gasum will also utilize the capacity to serve its maritime customers directly in and around 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”, says Anders Malm, Senior Vice President, Supply & Trading, Gasum.

Demand for LNG and bio-LNG is set to grow

Demand for LNG is expected to grow especially in the maritime market, as the number of LNG-powered vessels is set to increase notably in coming years. The maritime industry faces increased pressure to transition to low-emission fuels.

The UN’s maritime organization IMO and the EU have set goals and targets for reducing greenhouse gas emissions, but also customers are demanding more sustainable transportation to meet their emission reduction goals.

The capacity at Klaipeda can additionally be used for virtual liquefaction of pipeline fed biomethane into bio-LNG, through mass balancing and biomethane certificates. Gasum believes this to be an important capability going forward, as a growing number of the company’s customers are seeking to reduce the lifecycle emissions of fuel further than what LNG alone can offer.