Gas, Investments, Lithuania, Port, Transport

International Internet Magazine. Baltic States news & analytics Wednesday, 30.07.2014, 03:56

Return on LNG terminal in Klaipeda quays investment is expected in 20 years

Petras Vaida, BC, Vilnius, 10.07.2012.Print version
Lithuanian Prime Minister Andrius Kubilius says that Klaipeda State Seaport investment in liquefied natural gas (LNG) terminal facilities must guarantee the authority normal average rate of return which is expected in 20 years.

Kubilius pointed out that the average rate of return on the investment in the Klaipeda seaport quays is guaranteed by the so-called port charges that are collected from the ships coming to the seaport. However, the Government also provisioned other options of refund, but PM did not explain which exactly.

"In this case, since the quay is specific, we also considered other options if the standard port charges were not sufficient to guarantee the return on investment", said Kubilius.

ELTA reports that last Thursday Klaipeda State Seaport Authority and the company Klaipeda Nafta which is implementing liquefied natural gas terminal project signed a cooperation agreement which provisions the funding of the creation of terminal quays and other infrastructure facilities.

 The agreement was signed by Klaipedos Nafta CEO Rokas Masiulis and Director of Klaipeda State Seaport Authority Eugenijus Gentvilas, informed LETA.

 The agreement provisions that the oil company will build the quay and all the necessary equipment and the seaport will offset the expenses of the quay construction. The cost of the construction will be clear after a public procurement competition.






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