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Klaipedos Nafta Decides to Keep Importing LNG
= Considering to buy FSRU to cut 27 mil euros =
Lithuania's Klaipedos Nafta has decided to continue import of LNG for a long time. The company evaluated LNG with enough competitiveness could be an alternative to pipeline gas and contribute to its energy security. To cut operation costs, it is now considering to purchase a Floating Storage and Regasification Unit (FSRU).

Klaipedos is now using FSRU "Independence" at the Port of Klaipeda in Lithuania as an import facility under the charter deal with Norwegian shipping company Hoegh LNG. Independence has a 170,000 cubic meter tank and a regasification capacity of 0.4 Bcf a day (approx. 3 million mt a year).

Klaipedos intends to cut operation costs of 27 million euros annually by acquiring Independence or another FSRU after the charter deal expires in 2025. It will raise funds for the purchase by a loan from banks or other ways by April 2020 and select FSRU by the end of 2022.

The Port of Klaipeda is the first LNG import base in Lithuania. After commercial operation started in 2015, natural gas is supplied from the port to three Baltic countries including Estonia and Latvia, and the port with a regasification facility is used as a logistics base of LNG.

Also, imports of US LNG started in 2017. Its sources are being diversified.
last modified : Thu 14 Nov, 2019 [10:36]
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