Klaipedos Nafta: Lithuania Govt Passes Resolution on LNG Terminal

Klaipedos Nafta said in a statement that the Government of the Republic of Lithuania passed a resolution regarding the establishment of the LNG terminal whereby it is approved that Klaipedos Nafta would continue the implementation of the LNG terminal project.

“The Ministry of Energy of the Republic of Lithuania is assigned to initiate the general meeting of shareholders of AB Klaipedos Nafta regarding the amendment of the Articles of the Association of AB Klaipedos Nafta, proposing to stipulate in the Articles of the Association of the company that one of the purposes of AB Klaipedos Nafta activities would be the establishment of the LNG terminal and its preparation for operation, ensuring economical and rational operation of the LNG terminal and/or its later transfer to the natural gas transmission system operator controlled by the Republic of Lithuania,” the company said in a statement.

“State Enterprise Klaipeda State Seaport Authority is obliged to develop the current and to establish a new infrastructure of the Klaipeda State Seaport and in this way to create a background for the establishment and commencement of operation of the LNG terminal by 3 December 2014 and to transfer such infrastructure or to grant the right to use it to AB Klaipedos Nafta,” the company added.

Klaipedos Nafta last month announced that it has selected Norwegian company Höegh LNG as a supplier of the floating LNG import terminal.

Höegh LNG plans to use the second of the two new regasification vessels currently being built in Korea for the 10 year lease agreement which will commence in the second half of 2014.

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LNG World News Staff, February 16, 2012; Image: Höegh LNG