The Seimas of the Republic of Lithuania decided to grant a state guarantee to the Nordic Investment Bank (NIB) for the loan that will finance the LNG terminal project by Klaipedos Nafta.
The decision was explained in a statement issued by Klaipedos Nafta, saying the Seimas had agreed to grant a state guarantee to the NIB regarding the loan in the amount of EUR 34,754,402 granted to Klaipedos Nafta for the period up to 20 years at the interest rate set by the NIB for financing the investment project “Liquefied Natural Gas Terminal.” The state will be assuming guarantee obligations regarding the repayment of the loan of EUR 34,754,402 as well as the payment of interest.
“It is also established that the state guarantee shall also be valid when the LNGT project implemented by the Company and/or the works and/or the assets forming it are transferred and/or the LNGT activity performed by the Company is moved to a subsidiary directly 100 percent controlled by the Company under the procedure set by legal acts ,” stands in the statement.
[ mappress ] Press Release, July 9, 2014; Image: Hoegh LNG