Energy, EU – Baltic States, Gas, Lithuania, Transport

"We will make the final decision on the buyout of the LNG vessel in autumn but we must get prepared now," the PM says.

Yesterday, the company Klaipedos Nafta, the operator of the Klaipeda Oil Terminal based in Klaipeda, and the Government were looking for ways to reduce the LNG terminal's operating costs.

"Yesterday, it was decided that the Government and Klaipedos Nafta will prepare all relevant legislation by autumn in order to make a decision whether to take out a loan for the vessel's buyout," Butkevicius says.

Experts say that the current situation on the financial markets is very favourable to borrow.

According to Butkevicius, it has been estimated that the buyout would allow Lithuania saving around EUR 70 million in 30 years.

Independence was built in South Korean shipyard Hyundai Heavy Industries Co. Ltd. The vessel is 294 metres in length, 46 metres in width and 47 metres in height. Her speed is 18 knots. A total of 25,000 tonnes of steel were used for her construction. The vessel has 4 LNG storage tanks of a total capacity of 170,000 cubic metres. Now the Independence belongs to the company Hoegh LNG that is registered in Norway.