SC Klaipedos nafta has signed the agreement with SOMITEKNO Ltd. (amended)

On 14 September 2010 SC Klaipedos nafta (hereinafter - the Company) has signed
oil and oil products transshipment services agreement with Somitekno Ltd
(hereinafter - the Customer). According to the above mentioned agreement both
parties have agreed on the vacuum gasoil transshipment services at the
Company‘s terminal during period September 2010 to August 2011 setting the
minimal volume of oil products to be transshipped during this period. Parties
also agreed that if during the calendar month the Customer will not supply
minimal contractual volume of the product it will compensate the Company
according to the agreement, however if during the calendar month the Company
will not transship minimal contractual volume of the product it will compensate
the Customer accordingly. 
 
This contract has been signed between parties after the Company has obtained
proposals from interested parties for vacuum gasoil transshipment and has
chosen the Customer due to the most beneficial terms proposed. 

For the transshipment of oil product the Company will use the terminal
capacities, which previously were used for oil products transshipment under the
contract with UAB “Naftos grupe”. Currently, the Company is proceeding with the
termination of UAB Naftos grupe contract, which according to the Company
illegally includes exclusivity clause for vacuum gasoil transshipment. 

The Company expects that new contract will ebable it to increase its revenue by
4 - 9 million Litas compared to the previous contract with UAB „Naftos grupė“. 


Chief Financier Johana Bučienė
8 46 391 636