The Nordic Investment Bank has signed a EUR 34.8 million loan agreement with Klaipedos Nafta to finance Lithuania’s first LNG terminal at the Port of Klaipeda.
The 20-year maturity loan for the LNG terminal allows Lithuania to purchase natural gas from several global suppliers. Before the terminal, Lithuania purchased all of its natural gas via a pipe from a single supplier and paid among the highest prices in the European Union.
The infrastructure consists of the FSRU Independence, an offshore jetty facility located in the Port of Klaipeda and a gas pipeline connecting the facility to the national gas grid. The terminal will start operations on 3 December. This is the first terminal of its kind in the Baltic countries.
Terminal operator Klaipedos Nafta is a majority state-owned oil and gas company. The government of Lithuania appointed Klaipedos Nafta to develop the LNG terminal project in 2010.
Press Release; Image: NIB