Energy, Gas, Investments, Lithuania, Port, Transport

International Internet Magazine. Baltic States news & analytics Sunday, 21.12.2014, 05:16

Klaipeda Port would have to invest at least LTL 230 mln into the LNG terminal

Petras Vaida, BC, Vilnius, 25.06.2012.Print version
According to preliminary estimates, under the treaty of Klaipeda Seaport Authority would have to invest more than LTL 230 million (EUR 66.6 million) into the LNG terminal.

Meanwhile, from 2012 to 2014, the Authority plans to invest a total of LTL 514 (EUR 149 million), of which LTL 123 (EUR 35.6 million) would be directed to the project terminal, reports LETA/ELTA, referring to Vakaru ekspresas.

 

What is more, in these 3 years the Seaport Authority, according to the treaty, would pay 50% of its profit to the state budget (around LTL 130 million/EUR 37.7 million). That means a destruction of the seaport and its stevedoring companies because only 5% of the projected funding would be left for the new projects. What is even worse, is that the port is demanded to give LTL 100 million (EUR 29 million) more to the LNG terminal project than it was originally planned. "If we now sign a treaty suggested by Klaipedos Nafta, this will mean that we do not give a cent to any of the projects proposed by the port companies," the director general said. Will the Government manage to find a Solomon-like decision on investments to a project which is essential to the entire country?






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