Two Lithuanian State Companies Reach Agreement on LNG Terminal

As Baltic Times reports, the Lithuanian state-owned Klaipeda State Seaport Authority and Klaipedos Nafta, on July 05 inked a cooperation agreement on an LNG terminal construction.

“I am happy that an agreement was reached and rational and appropriate decisions were made. The agreement allows us to move forwards and smoothly continue the construction of the terminal. We will immediately publish an invitation to tender for quay construction,” said Lithuanian Prime Minister Andrius Kubilius after the successful negotiations.

As two companies have agreed, Klaipedos Nafta will build the quay and equip the terminal. The port must cover building expenses.

The Klaipeda State Seaport’s financing of the LNG terminal facilities must provide the authority a normal rate of return of approximately 20 years.

[mappress]
LNG World News Staff, July 13, 2012; Image: Höegh LNG