If the deal succeeds, Lietuvos Energija will be able to exchange natural gas purchased in European countries for gas supplied to Lithuania by Gazprom Export, the company said in a press release.
It expects Gazprom to make its position known next month.
According to the press release, an unidentified natural gas supplier offers to supply gas to Lietuvos Energija starting 2013 under more favorable conditions than current contracts with Gazprom. The nearest possible point of supply would be the German-Polish border.
If the swap deal with Gazprom Export is reached, part of gas that the Russian company supplies to Poland via Belarus will be diverted to Lietuvos Energija and the resulting gas shortage in Poland will be covered from gas purchased by the Lithuanian company.
Lietuvos Energija also proposed an alternative to the swap deal, which is to buy natural gas directly from Gazprom Export under terms and conditions similar to those in the Western European market.
Lietuvos Energija uses gas purchased from the Russian group for electricity production at Elektrėnai power plant. The company also owns Kruonis Pumped Storage Plant and Kaunas Hydro Power Plant.
Lietuvos Energija is quoted on the blue-chip Main List of the NASDAQ OMX Vilnius stock exchange.
