NIB May Finance Klaipedos Nafta LNG Terminal, Lithuania

The Nordic Investment Bank (NIB) may finance Lithuania’s LNG terminal being developed by Klaipedos Nafta.

Projects with potentially extensive environmental impacts are made publicly available by NIB for comment before the bank makes a decision on financing the project.

Information on the construction of an LNG terminal in Klaipeda is available for 30 days starting from 20 December 2013. Only after this public consultation NIB will make a decision on the project.

The LNG terminal is a project aimed at establishing an alternative source of natural gas supply in Lithuania. The LNG Terminal is being developed by AB Klaipėdos nafta, a majority state-owned company. The LNG terminal infrastructure consists of three major components: a floating storage and regasification unit (FSRU) with a capacity of 170,000 cubic metres of LNG, an offshore jetty facility located in the southern part of the Port of Klaipėda (next to Kiaules Nugara Island) and an 18-kilometre long, 700-millimetre diameter gas pipeline that connects the FSRU with the main gas pipelines.

The LNG Terminal is expected to be launched by the end of 2014.

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LNG World News Staff, December 27, 2013; Image: Klaipedos Nafta