Clean Break: the company completely halting Russian engagements or exiting Russia
Leave WithdrawalIgnitis Group is a state-owned energy holding company located in Vilnius, Lithuania. The Group’s core business is focused on operating Lithuania’s electricity distribution network and managing and developing its Green Generation Portfolio.
Clean Break: the company completely halting Russian engagements or exiting Russia
Leave WithdrawalLithuania has passed a law that forbids gas trading with Russia. "Regarding the natural gas, Lithuania was the first EU member state which suspended its purchases from Gazprom in the beginning of Q2 2022 by replacing it with LNG cargoes, mainly from the USA and Scandinavia. Furthermore, on 1 July 2022, a law prohibiting natural gas imports from Russia and other countries posing threat to the country’s national security has entered into force. Finally, in autumn 2022, we secured a spot for 6 additional LNG cargoes per year until the end of 2032 at the Lithuanian LNG terminal in Klaipėda. Thus, even though natural gas is not the core business of the Group, we actively participate in every way possible to reduce natural gas dependency on Russia while ensuring uninterrupted supply to our customers."
March 24, 2022 | Lithuania’s state-owned company to stop buying Gazprom gas after Putin demands to pay rubles |