Klaipedos Nafta - Notification on material event

AB Klaipėdos Nafta concluded agreement regarding partial support of LNG reloading station, small scale LNG equipment for LNG Terminal and LNG jetty equipment from EU funds

On 7 November 2016 AB Klaipėdos nafta (hereinafter – the Company) received a
notification from the Innovation and Networks Executive Agency regarding Grant
Agreement for the Action „Blue Baltics – LNG infrastructure facility deployment
in the Baltic Sea region” (hereinafter – Action), which was signed on 26
October 2016. According to this agreement the Company together with the Action
partners acquires the right to use the financial support of the Connecting
Europe Facility (CEF, part of the EU financing program). Under this Action the
Company received EUR 4 million for the LNG reloading station, small scale LNG
equipment for LNG Terminal and LNG jetty equipment. 

Information regarding confirmation of EU preliminary financial support was
announced in the Company’s notification on material event on 12 July 2016. 

Information on the approval of the general meeting of shareholders of the
Company to implement investment project of LNG distribution station was
announced in the Company’s notification on material event issued on the 25
August 2015 and 8 March 2016. 

The construction of the Company’s LNG reloading station is on-going and the
foreseen start of operations of LNG reloading station is second half of 2017. 

AB Klaipedos Nafta previously has received the EU support for the LNG reloading
station construction, FEED and other preparation works. 


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