Klaipedos Nafta AB - Notification on material event

Regarding ensuring the mandatory operations of the liquefied natural gas terminal

On 29 February 2012 the Government of the Republic of Lithuania passed a
resolution “Regarding ensuring the mandatory operations of the liquefied
natural gas terminal” whereby it resolved as follows: 

  -- that the liquefied natural gas (LNG) terminal must be installed and
     operated following such technological parameters, which would permit to
     ensure the mandatory operations of the LNG terminal without any
     interruptions, i.e. the technological capacity of the LNG terminal, which
     is necessary for constant and efficient satisfaction the general need for
     natural gas in the Republic of Lithuania according to the formula of the
     infrastructure standard N-1, which describes the ability of the technical
     capacity of the gas infrastructure to satisfy total gas demand in the
     calculated area in the event of disruption of the single largest gas
     infrastructure during a day of exceptionally high gas demand;
  -- that in taking of decisions regarding ensuring the mandatory operations of
     the liquefied natural gas terminal, the measures, which guarantee the
     technological and economic feasibility of the activities of the terminal,
     must be provided for;
  -- to assign to the Ministry of Energy of the Republic of Lithuania to prepare
     and present to the Government of the Republic of Lithuania the draft Law of
     the Republic of Lithuania on the Liquefied Natural Gas Terminal, which
     would establish the general principles of, requirements for and special
     legal regulation of the installation and operations of the LNG terminal in
     the territory of the Republic of Lithuania, the Ministry of Energy is
     instructed to prepare the draft Law by 20 March 2012;
  -- to assign to the Ministry of Energy of the Republic of Lithuania to
     establish in the draft Law of the Republic of Lithuania on the Liquefied
     Natural Gas Terminal that the volume of natural gas imported through the
     LNG terminal and natural gas pipelines (through each of such means
     individually) would make not less than 25 % of all the natural gas volume
     consumed in the Republic of Lithuania annually.


         Mantas Bartuška, Finance Director, 8 46 391 763