Core Viewpoint - Lithuania's gas transmission system operator Amber Grid has established a natural gas transportation agreement to the Kaliningrad region, adhering to international agreements and EU regulations, with a contract duration until December 31, 2030 [1] Group 1: Agreement Details - The new transit service conditions are set for five years, with service prices regulated by the National Energy Regulatory Council [1] - The permissible revenue level for 2026 is approximately €30 million [1] Group 2: Capacity and Regulations - The contract allows for a capacity of 10.5 million m³ per day at the exit point to the Kaliningrad region [2] - Commercial gas trading remains prohibited under Lithuanian law, ensuring that the volume of gas entering and exiting the pipelines is strictly accounted for [2]

Core Insights - Strong demand for expanded energy infrastructure investment in Northern Nevada as Southwest Gas advances long-term energy solutions [1][3] - Successful closure of the Second Supplemental Open Season for the 2028 Expansion Project, allowing potential shippers to submit binding requests and refine capacity needs [2][3] Project Details - The Second Supplemental Open Season launched on November 11, 2025, to accommodate continued interest in the expansion project [2] - The project aims to enhance the existing 898-mile transmission system, increasing reliable energy availability and supporting economic development in Northern Nevada [5][6] Financial Projections - Capacity requests for the project total nearly 800 million cubic feet per day, with an estimated capital investment of approximately $1.7 billion [8] - Estimated capital spending is projected at around 20% in 2026, 25% in 2027, and 55% in 2028, with an expected in-service date of November 1, 2028 [8] - Following the project's in-service, potential annual incremental margin is estimated to be between $215 million and $245 million [8]