GET Baltic, the natural gas market operator invited the natural gas participants in the Baltic to participate in the Lithuanian LNG terminal required volume surplus auction.
The company said in a statement that 110 GWh of natural gas will be made available for auction.
In accordance with the procedure established by the legal acts of Lithuania, the auction is organized upon receipt of a request from the LNG supply and trading company Litgas, which carries out the designated supplier activity.
“This is the first such public auction in the Baltic States. Therefore, we invite all participants of the natural gas market in the Baltic States actively participate in the auction by offering the best prices,” chief business development officer of GET Baltic Gintaras Buzkys said.
Interested participants are invited to submit bids until August 8, 2018, with the winners to be unveiled on August 10.
GET Baltic noted that the volume of natural gas sold may be divided into part not less than 10 GWh, with the period of supply starting from August 15 to September 30.
In the event that the total quantity of natural gas is not sold at the auction, the repeated auction shall be published for the remaining unrealized natural gas volume.