At the general shareholder meeting of Lithuania's Klaipedos Nafta, it was approved for the company to continue the implementation of the LNG import terminal. |
Klaipedos Nafta concluded contract with Norway's Hoegh LNG Ltd. at the beginning of this month to charter a vessel equipped with floating storage regasification unit (FSRU), that will be used as a LNG import terminal. The contract was subject to the shareholders' approval at the general meeting, which was slated for March 26th. With the approval, the contract has become formally enforceable for 10 years starting the second half of 2014.
Hoegh LNG placed an order for two vessels with FSRU with South Korea's Hyundai Heavy Industries in June 2011. Hoegh LNG will charter out one vessel with FSRU to Klaipedos, which will be secondly constructed. The vessel is scheduled to be completed in the first half of 2014 and expected to be delivered to Klaipedos during September-December 2014.