2013-08-30 15:05:05 CEST

2013-08-30 15:06:05 CEST


REGULATED INFORMATION

Lithuanian English
Klaipedos Nafta AB - Notification on material event

AB Klaipėdos Nafta signed the agreement for disbursement of funds of the liquefied natural gas terminal



On 29 August 2013 AB Klaipėdos Nafta (hereinafter, the Company) and AB Amber    
 Grid (hereinafter, Amber Grid) signed the agreement for disbursement of funds  
 of the liquefied natural gas terminal (hereinafter, LNGT) (hereinafter, the    
 Agreement).                                                                    
Amber Grid, performing the activities of the operator of the natural gas        
 transmission system of the Republic of Lithuania, acts under the procedure and 
 conditions set by legal acts as the administrator of the funds intended for    
 compensation for the expenses of construction and operation of the LNGT, its   
 infrastructure and connection, in full or in part (hereinafter, the LNGT       
 funds). Meanwhile the Company, currently performing the functions of the LNGT  
 project implementation company, acts under the procedure and conditions set by 
 legal acts as the recipient of the LNGT funds, having the right to receive the 
 LNGT funds collected and administered by the administrator of the LNGT funds   
 and to use them under the procedure set by legal acts.                         
By the said Agreement the Company and Amber Grid established and set out in     
 detail the procedure and conditions of disbursement of the LNGT funds collected
 by Amber Grid to the Company. Under the Agreement Amber Grid will disburse to  
 the Company 1/12 of the  LNGT funds intended for compensation for the expenses 
 of operation of the LNGT, its infrastructure and connection, in full or in     
 part, as approved by the National Control Commission for Prices and Energy     
 (hereinafter, the NCCPE) for the reporting year, each month.                   
Referring to Resolution No. O3-317 of the NCCPE of 19 October 2012, the amount  
 of the LNGT funds approved for 2013 for compensation for the expenses of       
 construction of the LNGT, its infrastructure and connection, in full or in     
 part, is LTL 113,798,000.                                                      
Following Article 1 of the Law  of the Republic of Lithuania on the Amendment to
 Articles 5, 10 and 11 of the Law on the Liquefied Natural Gas Terminal of the  
 Republic of Lithuania, as of 1 January 2014 LNGT funds shall be intended for   
 compensation for the expenses of construction of the LNGT, its infrastructure  
 and connection, which are not feasible for financing from other resources      
 available to the LNGT project implementation company, as well as of all the    
 fixed operating expenses of the LNGT, its infrastructure and connection,       
 necessary for ensuring the operation of the LNGT.                              




         Mantas Bartuška, Director of the Finance and Administration
Department, 8 46 391 763