Lithuania: Klaipedos Nafta Signs Preliminary Gas Supply Deal for LNG Terminal

SC Klaipedos Nafta and SC Lietuvos Energija signed the preliminary contract that turned to be the first step in the negotiations regarding the volumes and terms of gas supply from the projected Liquefied natural gas (LNG) Terminal.

During the implementation of the LNG Terminal’s project the Parties have committed to exchange information and specify all the related data necessary for the conclusion of the main Agreement.

The Contract also provides for Klaipedos Nafta, the Company executing the project, to put all efforts so that the LNG Terminal’s capacity would allow guaranteeing the total gas volume necessary for Lietuvos Energija.

The Parties will specify the gas volumes, terms of delivery, pricing principles, distribution of responsibilities in the main Agreement that is expected to be signed by 31 December 2012.

LNG Terminal in Klaipeda Seaport is expected to start its operation by the end of 2014.

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LNG World News Staff, December 19, 2011; Image: Klaipedos Nafta