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LITGAS contract with Statoil will help to ensure operations of the LNG terminal and to develop new activities
Natural gas supplier and trader UAB LITGAS, part of Lietuvos Energija energy company group, today has signed a LNG supply contract with Norwegian company Statoil ASA which offered the most favourable conditions. This contract will help to ensure continuous operation of the terminal and will establish a new natural gas pricing policy linked to the natural gas price movements on the international markets. The contract also covers possibilities of LNG reloading – a new commercial activity in the Baltic Sea region.

date.png23 Aug 2014 07:42 | comments.png 0 Comments | tags.png europe lithuania lng statoil [ More ]

Commission authorises €448 million aid for construction of Lithuanian LNG terminal
The European Commission has found that aid for the construction and operation of a Liquefied Natural Gas terminal, to be developed in the Klaipėda Seaport in Lithuania by AB “Klaipėdos nafta”, complies with EU state aid rules. The project aims at increasing the security of gas supply within Lithuania by diversifying its supply sources. The Commission has concluded that the aid furthers EU energy goals without unduly distorting competition as the development of the LNG terminal will integrate Lithuania into the EU gas market and will stimulate competition on the Lithuanian gas markets.

date.png20 Nov 2013 11:45 | comments.png 0 Comments | tags.png europe klaipėdos lithuania lng [ More ]

Agreements between PKN ORLEN and Glencore Energy UK Ltd
Polski Koncern Naftowy ORLEN S.A. (“PKN ORLEN”) hereby informs that on 17 December 2012 it signed a spot agreement with Glencore Energy UK Ltd, London, United Kingdom („Glencore”) for delivery of crude oil to AB ORLEN Lietuva („ORLEN Lietuva”). The estimated net value of the agreement amounts to approximately USD 78 million (i.e. approximately PLN 243 million, based on the average PLN/USD exchange rate as of 17 December 2012, as stated by the National Bank of Poland).

date.png18 Dec 2012 06:39 | comments.png 0 Comments | tags.png europe glencore lithuania pkn-orlen refinery [ More ]

LOTOS Geonafta takes over Lithuanian Manifoldas
November 28th 2012 saw the consummation of an agreement whereby LOTOS Geonafta acquired the remaining 50% interest in Manifoldas. LOTOS Geonafta, which had held a 50% interest prior to the transaction, took full control over the company. Manifoldas is a successful player in Lithuania's hydrocarbon exploration and production sector. The company produces approximately 30 thousand tonnes of crude a year.

date.png01 Dec 2012 08:19 | comments.png 0 Comments | tags.png deals europe lithuania lotos upstream [ More ]

On establishment of the planned company’s investments into the LNG terminal for 2013
Klaipėdos Nafta AB (hereinafter, the “Company”) hereby informs that the National Control Commission for Prices and Energy in its meeting of 19 October 2012 having considered a draft of the investments planned by the Company into the liquefied natural gas terminal (hereinafter, the “LNG terminal”), installation of its infrastructure and the connection (the Company provided an information on the planned draft and its financing sources earlier today, by notifying the notification on material event), has decided to compensate the expenses of the LNG terminal, installation of its infrastructure and the connection or part thereof for 2013 – LTL 113,798 thou.

date.png28 Oct 2012 08:21 | comments.png 0 Comments | tags.png europe klaipėdos-nafta lithuania lng [ More ]

Regarding signing of the contract on lease, operation and maintenance (repair) of the floating liquefied natural gas storage and
AB Klaipedos Nafta has signed a contract on lease, operation and maintenance (repair) of the floating liquefied natural gas storage and regasification unit (hereinafter, the FSRU) for 10 years with the right to redeem the FSRU with Höegh LNG Ltd., the winner of the public procurement tender of AB Klaipėdos Nafta “Acquisition of a Floating Liquefied Natural Gas Storage and Regasification Unit”, providing that the term of delivery of the FSRU to Klaipėda Port shall be from 1 September 2014 to 1 December 2014, setting a fixed price for lease of the FSRU, whereas the FSRU operation, maintenance (repair) costs shall be reimbursed on occurrence, however such costs will not exceed the agreed amount for the first two years, therefore, the total FSRU lease and operation costs for the first year, including remuneration for the crew and other payments, which will be indexed annually according to the consumer price index, will not exceed USD 156,200 (VAT excluded) per day, and also providing that AB Klaipėdos Nafta will have to submit to the FSRU supplier a warranty for payment of the amount not exceeding USD 50,000,000, for the issue of which AB Klaipėdos Nafta will have to pledge its property (funds in bank accounts, receivables) for the benefit of the person that issues the warranty. This contract will enter into force after its approval by the general meeting of shareholders of AB Klaipėdos Nafta.

date.png02 Mar 2012 15:55 | comments.png 0 Comments | tags.png lithuania lng [ More ]

LNG Terminal Project was Included in the Implementation Plan of the National Energy Strategy
On February 7, 2012, the Government of the Republic of Lithuania passed a resolution “Regarding Approval of the 2008-2012 Implementation Plan of the National Energy Strategy” (hereinafter – Plan) whereby the project of liquefied natural gas terminal was included in the 2008-2012 Implementation Plan of the National Energy Strategy.

date.png09 Feb 2012 06:52 | comments.png 0 Comments | tags.png lithuania lng [ More ]

Höegh LNG wins tender for LNG floating storage and regasification unit in Lithuania
Höegh LNG has been informed by AB Klaipedos Nafta that Höegh LNG has the winning
tender offer for a new LNG floating storage and regasification unit in Lithuania. A mandatory standstill period according to the Law on Public Procurement of the Republic of Lithuania is now in force and will end at
midnight on 7 February 2012.

date.png23 Jan 2012 18:06 | comments.png 0 Comments | tags.png engineering europe hoegh lithuania lng [ More ]

PKN ORLEN has signed an agreement with Glencore Energy UK Ltd. for crude oil deliveries to ORLEN Lietuva
Polski Koncern Naftowy ORLEN S.A. ("PKN ORLEN") informs that on 12 July 2011 it signed a spot agreement with Glencore Energy UK Ltd., London, United Kingdom („Glencore”), for crude oil deliveries to AB ORLEN Lietuva (“ORLEN Lietuva”). The estimated net value of the agreement amounts to approximately USD 82 million (i.e. approximately PLN 238 million, based on the average PLN/USD exchange rate as of 12 July 2011, as stated by the National Bank of Poland).

date.png13 Jul 2011 05:45 | comments.png 0 Comments | tags.png lithuania pkn-orlen refinery [ More ]

Fluor Wins Advisory Contract for Lithuanian Gas Terminal
Fluor Corporation (NYSE: FLR) announced today that it has been awarded a contract by Klaipedos Nafta AB, Lithuania's state-owned oil company, to provide engineering and business support services for a new floating liquefied natural gas (LNG) import terminal in Klaipeda, Lithuania. Fluor booked the undisclosed contract value in the second quarter of 2011.

date.png07 Jul 2011 08:21 | comments.png 0 Comments | tags.png fluor lithuania lng [ More ]
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