Lithuania’s KN declares purchase option on Höegh FSRU

Lithuanian oil and LNG terminals operator Klaipedos Nafta (KN) has exercised its option to acquire the floating storage regasification unit (FSRU) Independence from Norway’s Höegh LNG.

KN announced plans to acquire the 2014-built FSRU in February this year after exploring several options including a newbuild and a converted LNG carrier. The move was approved by KN’s shareholders the same month and the company had until December to declare a purchase option.

The FSRU has been on charter to KN since 2014. The existing contract will remain in place by December 2024, when the transfer of ownership is expected to take place.

The price tag of the Independence is $153.5m, excluding value added tax, according to KN’s estimates earlier this year.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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