Decision on investments into the activities of operating the LNG bunkering carrier taken


On 20 November 2015, the Board of AB Klaipėdos Nafta took a decision to perform activities of operating a liquefied natural gas bunkering carrier and to establish UAB SGD logistika, a wholly owned subsidiary of AB Klaipėdos Nafta, for performance of such activities. The authorised capital of UAB SGD logistika, a subsidiary of AB Klaipėdos Nafta, is EUR 200,000, Mantas Bartuška is the head of the subsidiary since its establishment.

LNG transportation services will be offered to clients in the Baltic Sea, also to clients of the LNG distribution station under construction in Klaipėda. It is planned that UAB SGD logistika together with its partner Bomin Linde LNG GmbH & Co. KG will establish a joint venture in Germany and will order construction of an LNG bunkering carrier. AB Klaipėdos Nafta with its said partner is going to provide LNG bunkering services in the Klaipėda State Seaport, in the Baltic Sea and in the North Sea.   

The Board of AB Klaipėdos Nafta has also decided that the company will issue guarantees (i) regarding performance of UAB SGD logistika obligations under the joint venture agreement with Bomin Linde LNG GmbH & Co. KG, also (ii) regarding payment of a part of the rent of the carrier. According to the estimates of AB Klaipėdos Nafta, the possible total liability of AB Klaipėdos Nafta according to such guarantees should not exceed the amount of USD 14,000,000.

 

         Marius Pulkauninkas, Director of Finance and Administration Department, tel. 8 46 391763