TGS Baltic advised Klaipėdos Nafta in negotiations on changing financing mechanism for Klaipėda LNG terminal in Lithuania

20.09.2019 TGS Baltic advised Klaipėdos Nafta in negotiations on changing financing mechanism for Klaipėda LNG terminal in Lithuania

On the 19th of September, the European Commission (EC) approved the modification of financing mechanism for Klaipėda liquefied natural gas (LNG) terminal in Lithuania.

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.

For more information, please consult:

English: https://lnkd.in/gZJ-EYB

Lithuanian: http://enmin.lrv.lt/lt/naujienos/europos-komisija-pritare-sgd-terminalo-saugumo-dedamosios-mazinimui?fbclid=IwAR3QkeufwrlVOt34DFV0EhlLJlbx-SFPee4BK8alDhryVTKAtz9YDtf8C5Q