On 5 August 2015 the Board of AB Klaipėdos Nafta (the Company) consented that the Company takes necessary preparatory actions related to the possible decision to redeem the floating liquefied natural gas (LNG) storage and regasification unit for the purpose of decreasing annual LNG terminal exploitation costs.
With regard to that, the Board of the Company decided to initiate public procurement procedures for the purchase of financial services (credit) amounting up to EUR 300 mln. On 6 August 2016 the Company announced the Draft Technical Specification as well as the Draft Term-sheet of the Procurement Contract. It is anticipated to use the credit for the purpose of fulfilment of financial obligations of the Company arising under the Contract on Lease, Operation and Maintenance (Repair) of the Floating Liquefied Natural Gas Storage and Regasification Unit (with amendments and supplements to it) signed by and between the Company and Höegh LNG Limited on 2 March 2012. It is envisaged that the procurement contract shall enter into force only subject to adoption of all necessary legal acts related to the commitment regarding the redemption of a floating LNG storage and regasification unit, and approval of the contract by the General Meeting of Shareholders of the Company and the Board.
Marius Pulkauninkas, Director of Finance and Administration Department, 8 46 391 763