European Commission has published a decision on the compatible state aid confirming that the guarantee to be provided for Nordic Investment Bank by the Republic of Lithuania regarding the loan to be granted for AB "Klaipedos nafta" (hereinafter - the Company) for acquisition of Floating Storage and Regasification Unit (hereinafter - FSRU) is compatible with the internal market and fulfils the criteria for state aid. The decision of the European Commission will allow to secure 100% of the Company's financial obligations under the Loan agreement concluded between the Company and Nordic Investment Bank on 9 March 2020. It should be noted, that subject to Law on Liquefied Natural Gas Terminal of Republic of Lithuania the Company has to acquire ownership of FSRU and become its owner by 31 December 2024.
More information on the approval of the European Commission is provided on the following:
https://ec.europa.eu/commission/presscorner/detail/en/MEX_20_2176
Jonas Lenkšas, Chief Financial Officer, +370 694 80594.
