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Finance ministry authorises KN LNG activities

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LNG Industry,

AB Klaipedos nafta (KN) has received multiple authorisations from the Ministry of Finance of the Republic of Lithuania.

The company has been authorised:

  • to transfer (invest) the activity of the LNG terminal in Klaipeda as a property complex to the company’s 100% controlled subsidiary UAB SGD terminalas, legal entity code 304977459, by increasing the authorised capital of the subsidiary.
  • as a parent company, to provide a corporate guarantee to UAB Hoegh LNG Klaipeda and HÖEGH LNG Ltd for the performance of liabilities of the subsidiary under the time charter party (lease agreement), dated 2 March 2012.

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