SC Klaipedos Nafta concludes LNG jetty usage agreement

SC Klaipedos Nafta has concluded the LNG terminal jetty usage agreement with the Klaipeda State Seaport Authority.

The main terms of the agreement include, among others, the following:

• The Port Authority allows the company or any legal successors of the company to use the terminal jetty for a fee.
• The usage term of the LNG jetty will be 50 years, of which the last 30 years or more will be for the terminal jetty usage under common usage conditions by the Port Authority.
• Until the investment into the LNG terminal jetty pays off, the annual usage fee payable by the company for the usage of the jetty will be determined by an agreed formula.

The parties have a right to terminate the agreement only in case of enactment of the new laws of the Republic of Lithuania and/or other legal acts related to the regulation of legal terms regarding the usage of the LNG jetty.

Adapted from press release by Katie Woodward

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/11032015/klaipedos-nafta-concludes-jetty-usage-396/