Energy, EU – Baltic States, Financial Services, Gas, Good for Business, Lithuania

The Coordination Committee of EU's Connecting Europe Facility has approved EUR 10.2 million or 35 percent funding for Helsingborg and Klaipeda Infrastructure Facility. Klaipedos Nafta will receive EUR 6 million for the construction of onshore LNG distribution station. Meanwhile, the port of Helsingborg will receive the remaining amount for the construction of LNG liquefaction plant.

It is planned that the station will be launched in early 2017. Klaipedos Nafta had earlier received EUR 150,000 for the planning and other preparatory work on the LNG distribution station.

"The company is building the distribution station using own and borrowed funds, the project is not subsidised or otherwise supported by the state, thus it was important for us to receive financial support for the construction from the EU. The application for financing – the project's quality, relevance and importance for the EU's strategy and impact on the region – was highly evaluated. Our company, the operator of the LNG terminal, is striving to manage the infrastructure as efficiently as possible. The distribution station will significantly contribute to his goal and will reduce LNG terminal's maintenance costs," said Mantas Bartuska, Director General of Klaipedos Nafta.

The financing agreement is expected to be signed in September, while the first payment should be made in October.