Gas, Gas Market , Lithuania, Port, Transport

International Internet Magazine. Baltic States news & analytics Saturday, 04.07.2020, 14:41

Lithuania's Klaipedos Nafta bids to become LNG terminal operator in Brazil

BC, Vilnius, 09.10.2019.Print version
Lithuania's state-run oil and LNG terminal operator Klaipedos Nafta (Klaipedos Oil, KN) said on Wednesday it’s currently negotiating an operations and maintenance services agreement for a LNG terminal in Brazil with Brazils' Gas Natural Acu (GNA), KN announced via the Nasdaq Vilnius Stock Exchange.

Under such an agreement, KN may commit to incorporate a company in Brazil for the provision of such services.

"Productive negotiations are underway with GNA over the provision of terminal operator services," KN acting CEO Darius Silenskis said in the statement. "It's too early to estimate when the agreement might be reached but we are putting every effort to secure it and are making preparations in advance to be able to immediately focus on the provision of services to the new client, if successful."

The agreement is related to GNA’s LNG Terminal, located in Porto do Acu (state of Rio de Janeiro), one of the main port complexes in Brazil, which offers a series of logistics solutions for the Brazilian oil and gas market.

With the negotiations ongoing, KN refrains from providing more information on the value and duration of the contract.

KN has previously worked with companies implementing LNG projects in Latin America. The Lithuanian company won a tender for the provision of consultation services for Cartagena Port in Colombia in 2015.

Last summer, KN, as a partner of a consortium, failed in its bid to won a tender for the design, construction and operation of the LNG terminal in Cyprus.

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