Friday, July 30, 2021
HomeOil & GasKN launches tender for the acquisition of the FSRU

KN launches tender for the acquisition of the FSRU

Klaipėdos nafta (KN), the operator of Lithuania’s liquefied natural gas (LNG) terminal has announced the public procurement of floating storage and regasification unit (FSRU).

The procurement results will show whether there are any better alternatives on the market than the option of the acquisition of Independence as it is provided in the FSRU lease, operations and maintenance agreement with Norwegian company Hӧegh LNG signed in 2012. This agreement expires at the end of 2024. By December 2022, Lithuania has to decide on the acquisition of the FSRU.

“For Lithuania, the LNG terminal is one of the success stories of energy security and strengthening of the independence of the state,” said Minister of Energy Dainius Kreivys. “Thanks to it, today we have secured alternative natural gas supply, price competitiveness and we can choose from where and under what conditions we will buy natural gas. Our goal remains to ensure efficient operation of the terminal and the best price for consumers. The terminal, as an important component of the regional natural gas market, will become even more important when the gas pipeline between Lithuania and Poland becomes operational, joining the continental natural gas network.”

According to Darius Šilenskis, the CEO of KN, after the extensive FSRU and natural gas market research, discussions with current and potential users of the LNG terminal, as well as during the formal pre-procurement consultation, it became once again clear that the demand for LNG and such infrastructure required for the import thereof would remain both in Lithuania and in the region.
                                  
 

Sign up to our biweekly newsletter


    Most Popular