German marine fuel supply company Bomin Linde LNG has entered a joint venture agreement with SGD logistika, a subsidiary of Lithuanian Klaipėdos Nafta, to operate a new LNG bunkering carrier.
Following the agreement, SGD logistika and Bomin Linde LNG plan to establish a joint venture in Germany.
Bomin Linde LNG will control 80% of the company share, while SGD logistika will hold the remaining 20%.
According to Klaipėdos Nafta, the JV, titled Blue LNG, will build and operate a new LNG bunkering carrier which is expected to be operational in 2017.
The carrier will be transporting LNG from the Klaipėda LNG terminal to the LNG distribution station in the Klaipėda port, as well as to terminals in the North Sea and the Baltic Sea.
Klaipėdos Nafta estimates that its investment in the JV should not exceed the amount of USD 14 million.
The joint venture agreement should come into effect after the general meeting of shareholders of the Klaipedos Nafta, which is to be held on 14 December 2015, approves of the decisions of the Board of the company regarding issuance of guarantees.
Image: Bomin Linde