Klaipedos Nafta AB - Notification on material event

Regarding conclusion of the Novation Agreement

AB Klaipėdos Nafta (hereinafter, the Company) hereby informs that on 11 April
2014, in performance of the Agreement on the Lease, Operation, and Maintenance
(Repair) of the Liquefied Natural Gas Floating Storage and Regasification Unit
(hereinafter, the FSRU) for the Term of 10 Years with the FSRU Purchase Right
(hereinafter, the Agreement), concluded on 2 March 2012 with Höegh LNG Ltd.,
the winner of the public procurement organised by the Company “Acquisition of
the liquefied natural gas floating storage with regasification unit”, the
Novation Agreement (hereinafter, the Novation Agreement) was entered into,
according to which a part of rights and obligations of Höegh LNG Ltd. under the
Agreement, except for the rights and obligations related to the right of the
Company to purchase the FSRU, were assigned to Hoegh LNG Klaipėda, UAB, a
company indirectly fully controlled by Höegh LNG Ltd. 

Following the Novation Agreement regarding assignment of rights and obligations
under the Agreement it is inter alia foreseen that Höegh LNG Ltd. remains
jointly and severally liable for all obligations assigned to Hoegh LNG
Klaipėda, UAB 


         Mantas Bartuška, Director of the Finance and Administration
Department, +370 46 391 763