Klaipedos Nafta - Notification on material event

CORRECTION: The Government of the Republic of Lithuania adopted a resolution on the use of the LNG terminal funds

Correction due to typing error in item (i) where "payable (to be collected) the
 payers" should read as "payable by (to be collected from) the  payers"

On 12 November 2014 the Government of the Republic of Lithuania (hereinafter -
the Government) adopted a resolution "On Amendment of Resolution No 199 of the
Government of the Republic of Lithuania of 15 February 2012 “On the
Implementation of the Law  of the Republic of Lithuania on the Liquefied
Natural Gas Terminal” (hereinafter - the Resolution), which provides that: 

(i) The unused funds committed for the construction of the liquefied natural
gas terminal (“LNG terminal”), its infrastructure and connection costs, paid or
payable by (to be collected from) the  payers of the Republic of Lithuania for
funding of the construction of the LNG terminal, its infrastructure and
connection costs (“LNG terminal funds payers”) shall be compensated to the LNG
terminal funds payers; 

(ii) The aforementioned funds (excluding VAT) shall be compensated by adjusting
(reducing) the amount (excluding VAT) of an additional natural gas supply
safety component in addition to the upper limit of the natural gas transmission
price for the years 2015 and 2016 which shall apply to all LNG terminal funds
payers of the Republic of Lithuania; 

(iii) The aforementioned funds shall be compensated in equal parts in
proportion to the natural gas amounts transported through the natural gas
system in 2015 and 2016 by the LNG terminal funds payers; 

(iv) The administration costs of the LNG terminal funds shall not be
compensated to the LNG terminal funds payers; 

(v) The requirements provided above do not release the LNG terminal funds
payers from their duty to pay overdue debts of unpaid funds. 





         Marius Pulkauninkas, Director of the Finance and Administration
Department, 8 46 391 763