Lithuania to acquire LNG import terminal from Hoegh LNG

KN Energies AB

25/02/2022 13:26

VILNIUS, Feb 25 (Reuters) - Lithuania has decided to acquire
a floating storage and regasification vessel (FSRU), which has
served as an LNG import terminal since 2014, from Norway's Hoegh
LNG  HMLP.N , the terminal's operator, Klaipedos Nafta
 KNF1L.VL , said on Friday.
    The shareholders of the state-controlled company have
approved the exercise of an option to acquire the FSRU
Independence for $153 million after 10 years of lease, it added,
a day after Russia invaded Ukraine.
    Klaipedos Nafta said the purchase would ensure Lithuania's
energy independence by continuing to provide an alternative to
pipeline gas imports from Russia.
    "The terminal has served its purpose, and today we are free
from dependence on Russian gas ... by having diversified our
supplies," the company said in statement.
    "Energy security and independence are even more important in
the context of the current geopolitical tensions," it added.
    Until 2014, Lithuania and other two Baltic states, Latvia
and Estonia, were completely dependent on supplies from Russia,
their former Soviet master. 
    Last year, gas imports via the LNG terminal, mainly from the
United States, met 68% of the country's demand, data from
Lithuania's gas system operator Amber Grid showed. 
    Lithuania has said it could also supply natural gas to
Poland via a newly built pipeline, expected to start operations
by mid-2022, in addition to a possibility to supply gas to its
Baltic neighbours and Finland.

 (Reporting by Andrius Sytas, writing by Nerijus Adomaitis;
editing by Gwladys Fouche and Emelia Sithole-Matarise)
 ((nerijus.adomaitis@thomsonreuters.com; +47 9027 6699; Reuters
Messaging: nerijus.adomaitis.thomsonreuters@reuters.net))