Nordic Investment Bank signed an agreement to loan €20.4 million to Klaipedos Nafta for the construction of a reloading station for LNG in the port of Klaipeda.
The loan has been signed with a 15-year tenor, NIB said in its statement.
The new LNG reloading station will be able to store up to 5,000 cubic meters of gas to be transported to potential consumers in the Baltic countries and north-eastern Poland, that are not connected to the existing gas pipeline networks.
The station is expected to be ready in late 2017.
Speaking of the loan agreement, NIB’s president and CEO, Henrik Normann said the increased capacity to handle LNG will further boost the security of energy supply to the Baltic countries and promote competition in the Baltic market.
The LNG station will be equipped with two truck filling stations and will be accommodated for reloading the chilled fuel onto LNG carriers.