Klaipedos Nafta - Notification on material event

Decision on investments into the activities of operating the LNG bunkering carrier taken

On 20 November 2015, the Board of AB Klaipėdos Nafta took a decision to perform
activities of operating a liquefied natural gas bunkering carrier and to
establish UAB SGD logistika, a wholly owned subsidiary of AB Klaipėdos Nafta,
for performance of such activities. The authorised capital of UAB SGD
logistika, a subsidiary of AB Klaipėdos Nafta, is EUR 200,000, Mantas Bartuška
is the head of the subsidiary since its establishment. 

LNG transportation services will be offered to clients in the Baltic Sea, also
to clients of the LNG distribution station under construction in Klaipėda. It
is planned that UAB SGD logistika together with its partner Bomin Linde LNG
GmbH & Co. KG will establish a joint venture in Germany and will order
construction of an LNG bunkering carrier. AB Klaipėdos Nafta with its said
partner is going to provide LNG bunkering services in the Klaipėda State
Seaport, in the Baltic Sea and in the North Sea. 

The Board of AB Klaipėdos Nafta has also decided that the company will issue
guarantees (i) regarding performance of UAB SGD logistika obligations under the
joint venture agreement with Bomin Linde LNG GmbH & Co. KG, also (ii) regarding
payment of a part of the rent of the carrier. According to the estimates of AB
Klaipėdos Nafta, the possible total liability of AB Klaipėdos Nafta according
to such guarantees should not exceed the amount of USD 14,000,000. 




         Marius Pulkauninkas, Director of Finance and Administration
Department, tel. 8 46 391763