Energy, Gas, Legislation, Lithuania, Port, Transport

The Lithuanian Ministry of Energy has assigned to initiate the general meeting of shareholders of Klaipedos Nafta regarding the amendment of the Articles of the Association of Klaipedos Nafta, proposing to stipulate in the Articles of the Association of the company that one of the purposes of Klaipedos Nafta activities would be the establishment of the LNG terminal and its preparation for operation, ensuring economical and rational operation of the LNG terminal and/or its later transfer to the natural gas transmission system operator controlled by the Republic of Lithuania, reports LETA/ELTA.

State Enterprise Klaipeda State Seaport Authority is obliged to develop the current and to establish a new infrastructure of the Klaipeda State Seaport and in this way to create a background for the establishment and commencement of operation of the LNG terminal by December 3, 2014, and to transfer such infrastructure or to grant the right to use it to Klaipedos Nafta.

As reported, Klaipedos Nafta said in a statement to the stock exchange it planned to invest 532 million litas, while Klaipedos port would come with another 150 million litas to prepare the infrastructure.