Klaipedos Nafta to acquire FSRU by end-2024

Lithuanian LNG terminal operator, Klaipedos Nafta has decided to acquire the floating storage and regasification unit Independence or another FSRU no later than by December 31, 2024. 

FSRU Independence currently serves as Lithuania’s LNG import terminal in the port of Klaipeda.

The acquisition of FSRU would be financed by loans and other measures, Klaipedos Nafta said in its statement on Tuesday.

Klaipedos Nafta will also file proposals to the National Energy Regulatory Council for the reduction of the LNG terminal security additional component to the natural gas transmission price.

The company has also decided to engage in discussions with financial institutions regarding financing for the acquisition of an FSRU. An agreement is expected to be reached by the end of April 2020, with state clearance expected in May 2021.

The company also decided to conclude an agreement for a loan with the Nordic Investment Bank (NIB) on behalf of the company, borrowing from the NIB up to €135.5 million ($150.8 million) for a period of up to 26 years.