Klaipedos Nafta Updates on Lithuania LNG Project

January 31, 2012

Klaipedos Nafta AB said in a statement that on January 27, the Ministry of Energy of the Republic of Lithuania has submitted a draft resolution to the Government proposing to pass a resolution regarding establishment of the LNG terminal whereby it is approved that Klaipedos Nafta would continue the implementation of the LNG terminal project.

The company said in a statement that “the Government has also proposed to give an assignment to the Ministry of Energy of the Republic of Lithuania to initiate the General Meeting of Shareholders of Klaipedos Nafta AB regarding the amendment of the Articles of the Association of Klaipedos Nafta AB, proposing to stipulate in the Articles of the Association of the Company that one of the purposes of Klaipedos Nafta AB 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.”

“It is also proposed by the draft resolution to obligate State Enterprise Klaipeda State Seaport Authority 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 December 3, 2014 and to transfer such infrastructure or to grant the right to use it to Klaipedos Nafta AB,” the company added.

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

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LNG World News Staff, January 31, 2012; Image: Hoegh LNG