Authorities approve KN’s LNG terminal operations transfer to SGD terminalas

Lithuanian authorities have issued an authorization to Klaipedos Nafta to transfer terminal operations to its unit SGD terminalas.

The terminal operator, Klaipedos Nafta, created a unit to which it plans to transfer the operation of the terminal at the start of July, and the company’s board has already given approval.

On Wednesday, Lithuania’s ministry of finance authorized the transfer. Klaipedos Nafta is required to provide a corporate guarantee to Hoegh LNG for the performance of liabilities of the unit under the time charter deal.

The charter deal signed in 2012 has a ten-year term and the Norwegian FSRU giant Höegh LNG deployed its FSRU Independence, its second FSRU, on the project.

Lithuania, the largest of the three Baltic nations started importing LNG via the FSRU Independence located in the port of Klaipėda in December 2014.