Loan Agreement with EIB for LNG Terminal

01.07.2013 Loan Agreement with EIB for LNG Terminal

TGS Baltic acted as a legal advisor to AB Klaipedos Nafta in securing an 87 million euro loan from the European Investment Bank to finance 50% of the development costs of a Lithuanian liquefied natural gas (LNG) terminal project. The firm also advised Klaipedos Nafta on obtaining state guarantee to secure its obligations related to the project.

Klaipedos Nafta is the state-owned company implementing the LNG terminal project, the goal of which is to ensure Lithuania's security of natural gas supply and diversification of supply sources. The project is supported by the Government of the Republic of Lithuania and is formally designated as having major economic significance to the state.