During President Volodymyr Zelenskyy’s visit to Canada, the Naftogaz Group signed a memorandum with Kino Aski LNG regarding potential long-term supplies of Canadian liquefied natural gas. The parties are to assess demand in Europe and supply options, including the use of terminal infrastructure in Klaipėda.
Briefly about the main points
- The memorandum concerns the exploration of potential cooperation on long-term LNG supplies.
- The companies will be looking into European demand and supply options.
- «Naftogaz is considering the use of long-term storage facilities in Klaipėda and other European terminals.
- Naftogaz has reserved capacity in Klaipėda for the period 2033–2044.
- The Kino Aski LNG project is currently at the technical study stage.
The memorandum opens up the possibility of a new supply channel
The memorandum is not a contract for the purchase of gas, but provides for an assessment of potential long-term supplies of Canadian LNG.
Acting Chair of the Group’s Management Board Serhiy Fedorenko stated that exploring new sources and routes should give Ukraine more choice when gas procurement on competitive terms and enable a more flexible response to the country’s needs.
The parties will assess demand in Europe and logistics options
As part of the collaboration «Naftogaz»Kino Aski LNG” will be assessing potential demand for Canadian LNG on the European market and the possibilities for its supply. Fedorenko cited, amongst other options, the use of the group’s long-term capacity at the LNG terminal in Klaipėda, as well as at other European terminals.
In June, Naftogaz secured regasification capacity in Klaipėda for the period 2033–2044. Kino Aski LNG is a new Canadian LNG project currently at the technical study stage.
