NIB provides loan for Klaipeda-Kursenai gas pipeline

NIB provides loan for Klaipeda-Kursenai gas pipeline

Nordic Investment Bank and gas transmission system operator Amber Grid have signed a EUR 32 million loan agreement for the construction of the Klaipeda-Kursenai gas transmission pipeline.

The 15-year maturity loan is provided for building a gas transmission pipeline between the liquefied natural gas terminal in Klaipeda and the town of Kursenai, Lithuania, NIB informed in a statement.

“NIB’s loan for Amber Grid’s pipeline project will help to diversify energy supply sources in Lithuania and allow for full utilisation of the capacity of the LNG terminal in Klaipeda,” says Henrik Normann, NIB President & CEO.

The gas transmission pipeline is 110 km long and 800 mm in diameter. The pipeline project includes installing nine line block valve sites, two intelligent in-line inspection tools and four cathodic protection stations.

The gas transmission pipeline is scheduled to be operational by the end of 2015.

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