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KN secures loan to purchase FSRU

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LNG Industry,

AB Klaipedos nafta (KN) has concluded a loan agreement with Nordic Investment Bank for a sum of up to €160 million, with the intention of financing the acquisition of a floating LNG storage unit (FSRU).

The term of the loan is up to 25 years and, upon approval of the state aid by the European Commission, 100% of the company’s financial obligations under the loan agreement will be secured by a state guarantee.

The final loan amount will be determined by the cost of FSRU and the totality of the technical and financial circumstances related thereto. The main terms of the acquisition of the specific FSRU and the final decision will be approved in a separate meeting of KN’s Board.

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