Lithuanian oil terminal operator Klaipedos Nafta has entered into a 25-year loan agreement with The Nordic Investment Bank (NIB) to fund the acquisition of a floating storage regasification unit (FSRU) for LNG operations.
The company will use the EUR160m ($181.3m) loan provide by NIB to finance the purchase of the 2014-built LNG FSRU Independence, currently leased by KN from Norway’s Hoegh LNG, after the current 10-year charter expires at the end of 2024.
Klaipedos Nafta already secured a loan of EUR134.1m from NIB last December to finance the rent payable for the FSRU.
“As the energy market undergoes transformation and search for solutions to reduce environmental impacts, we have an advanced gas supply infrastructure in Klaipeda that can meet current and future needs of gas consumers in the Baltic Sea region and Central Europe. We see Klaipeda LNG terminal as an innovative service center that creates added value for the businesses in their transition to the green economy,” said Darius Silenskis, CEO of Klaipedos Nafta.