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. Last Updated: 07/27/2016

Williams in Vilnius

VILNIUS, Lithuania -- Lithuania's Economic Ministry said Tuesday that it had signed a letter of intent with U.S. Williams International, part of Williams Companies Inc., which plans to invest in the country's oil sector.

Williams is interested in shares in Butinges oil terminal, which is currently under construction, and would also like to take part in the privatization of the oil refinery Mazheikiu Nafta and invest in Birzhu Pipeline, a statement from the ministry said.

"It was agreed to carry out an analysis of the projects and other preparatory work during a period of eight to nine weeks," the statement said.