Klaipedos Nafta received state backing for the LNG terminal project in Lithuania.
“The Government of the Republic of Lithuania decided to approve the draft resolution of the Seimas of the Republic of Lithuania on granting a state guarantee to the Nordic Investment Bank and to present it to the Seimas,” Klaipedos Nafta said in a statement.
It is intended, according to the resolution, to grant the NIB a state guarantee for 20 years term loan that will be taken by Klaipedos Nafta in the amount of EUR 34 7 million and used to fund the project of the LNG terminal in Lithuania, the company added
The LNG terminal comprises a Höegh LNG FSRU (leased by Klaipedos Nafta), an offshore jetty including gas handling facilities and an 18 km pipeline connection to the Lithuanian gas grid. The project is planned to be finalised by the end of 2014.
LNG World News Staff, June 12, 2014; Image: Höegh LNG