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International Internet Magazine. Baltic States news & analytics Saturday, 21.09.2019, 18:43

Lithuania's Klaipedos Nafta bids to operate LNG terminal in Cyprus

BC, Vilnius, 29.07.2019.Print version
Lithuania's state-run oil and LNG terminal operator Klaipedos Nafta (Klaipeda Oil) is partnering with other international companies and will take part in a 500 mln euro tender for the design, construction and operation of the Cyprus LNG import terminal, reporterd LETA/BNS.

If successful, Klaipedos Nafta and its partners, including Samsung C&T, Posco E&C, Mitsui O.S.K. Lines and Osaka Gas, will provide long-term operation and maintenance services for this terminal, the Lithuanian company said in a statement.


"KN possesses the most relevant experience of delivering and operating a very similar LNG import terminal in Klaipeda," Tadas Matulionis, KN’s LNG business development director, said.


Matulionis noted that the demand for the management and operations of floating technology-based LNG import terminals has emerged only in the recent years, with two to three tenders announced annually. Therefore, the opportunity to participate in this tender is a significant acknowledgement of KN’s expertise.


Cyprus' state-run natural gas company DEFA announced an international public call for tenders for development of an LNG terminal in Vasilikos Bay in October 2018, and the winner is expected to be picked later this year. The new terminal should become operational in 2021.


The project has been granted EU support accounting for over 100 million euros. The total project budget is estimated at around 500 mln euros.


Klaipedos Nafta then CEO Mindaugas Jusius said last year the company has plans to become the largest LNG terminal operator in the world, and that would provide additional benefit to the state.


According to Jusius, Klaipedos Nafta is taking part in various projects worldwide both as a consultant and an investor.






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