Klaipedos Nafta Selects Nordea Bank to Provide Bank Guarantee for FSRU Lease

Klaipedos Nafta has selected Nordea Bank Finland to provide a bank guarantee intended to secure performance of the agreement concluded on 2 March 2012 by the company and Höegh LNG for lease of the floating storage and re-gasification unit.

“During implementation of the Procurement 3 final tender offers were submitted by 18 November 2013. Upon evaluation of the final tender offers according to the lowest price criterion, the Nordea Bank Finland was recognized to be the winner,” Klaipedos Nagta said in a statement.

Klaipedos Nafta said it has sent an invitation to Nordea Bank Finland to conclude a public procurement contract which must be signed after the period of deferment of 15 days which is applicable to the conclusion of the public procurement contract.

The main conditions of the guarantee provision agreement shall inter alia include the following:

(i) Amount of the guarantee: not to exceed USD 50,000,000;

(ii) Effective term of the guarantee: 15 January 2014 – 31 December 2014;

(iii) Price of financial services – 0.255% of the amount of the guarantee (USD 127,506.85).

[mappress]

LNG World News Staff, November 22, 2013