Klaipedos Nafta - Notification on material event

Ministry of Finance of the Republic of Lithuania granted state guarantee, securing obligations of AB Klaipėdos Nafta to the Nordic Investment Bank

On 12 January 2015, the Ministry of Finance of the Republic of Lithuania
(hereinafter, the Ministry of Finance) signed a state guarantee agreement with
the Nordic Investment Bank (hereinafter, the NIB) regarding the loan of EUR 34
754 402 to be given by the NIB to AB Klaipėdos Nafta (hereinafter, the
Company). The state guarantee agreement secures the obligations of the Company
to the NIB according to the credit facility agreement entered for a term up to
20 years on 27 November 2014 (hereinafter, the Agreement) for partial financing
of the liquefied natural gas terminal (hereinafter, the LNGT) project. The
Company will be able to borrow up to EUR 34 754 402 under the Agreement in
total. 

The state guarantee has been granted after fulfilment of all the conditions,
specified in Resolution No. XIIP-1935 of the Seimas of the Republic of
Lithuania “Regarding granting of the state guarantee to the Nordic Investment
Bank”, dated 8 July 2014: the Company mortgaged (inter alia) all future assets
that will be created during the LNGT project and that the Company will become
the owner of by developing and completing the LNGT project and for the benefit
of the Ministry of Finance (the state), paid a guarantee fee in the amount of
EUR 34 754,40. 

The Company announced about the conclusion of the Agreement in the Company's
notification on material event, dated 27 November 2014, and about fulfilment of
the conditions precedent in the Company's notification on material event, dated
30 December 2014. 


         Director of Finance and Administration Department, Marius
Pulkauninkas, +370 46 391 763