2012-01-27 17:13:44 CET

2012-01-27 17:14:46 CET


REGULATED INFORMATION

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Klaipedos Nafta AB - Notification on material event

Regarding the planned obligation on AB Klaipėdos Nafta to establish the LNG terminal


On 27 January 2012 the Ministry of Energy of the Republic of Lithuania has
submitted a draft resolution to the Government proposing to pass a resolution
regarding establishment of the liquidated natural gas (LNG) terminal whereby it
is approved that AB Klaipėdos Nafta would continue the implementation of the
LNG terminal project. 

The Government is also proposed by this draft resolution to give an assignment
to the Ministry of Energy of the Republic of Lithuania to initiate the general
meeting of shareholders of AB Klaipėdos Nafta regarding the amendment of the
Articles of the Association of the AB Klaipėdos Nafta, proposing to stipulate
in the Articles of the Association of the company that one of the purposes of
AB Klaipėdos Nafta activities would be the establishment of the LNG terminal
and its preparation for operation, ensuring economical and rational operation
of the LNG terminal and/or its later transfer to the natural gas transmission
system operator controlled by the Republic of Lithuania. 

It is also proposed by the draft resolution to obligate State Enterprise
Klaipėda State Seaport Authority to develop the current and to establish a new
infrastructure of the Klaipėda State Seaport and in this way to create a
background for the establishment and commencement of operation of the LNG
terminal by 3 December 2014 and to transfer such infrastructure or to grant the
right to use it to AB Klaipėdos Nafta.


         Mantas Bartuška, Finance Director, 8 46 391 763