Under the latest agreement issued in 2013, the leasing costs of the LNG terminal for 2019-2024 period were exclusively financed through a fee levied on Lithuanian gas consumers. In order to reduce the financial burden on consumers, Lithuania intended to replace it with a loan guaranteed by the Lithuanian State. Since the EC found the proposed measure compatible with the Internal Market, the modification was approved.
In the process that lasted nearly a year, the TGS Baltic team advised AB Klaipėdos Nafta in negotiations with the Ministry of Energy of the Republic of Lithuania and the European Commission.
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On the 19th of September, the European Commission (EC) approved the modification of financing mechanism for Klaipėda liquefied natural gas (LNG) terminal in Lithuania.