KN secures FSRU Independence rent funds

Klaipedos Nafta, the operator of the Lithuanian LNG terminal in the port of Klaipeda has secured a €135.16 million ($148.65 million) loan from the Nordic Investment Bank. 

KN said in its statement that the funds will be used to finance the rent under the time charter party signed with Höegh LNG for the floating storage and regasification unit (FSRU) Independence serving as the LNG import facility.

The loan will also be used to finance the balancing of the LNG terminal security additional component to the natural gas transmission price.

The term of the loan is up to 25 years, with 100 percent of the company’s financial obligations under the loan agreement will be secured by a state guarantee.