Published: 2019-12-30 13:00:00 CET
Klaipedos Nafta
Notification on material event

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

On 27 December 2019, 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 – NIB) regarding a loan of EUR 134 145 000 to be given by the NIB to AB Klaipėdos nafta (hereinafter – the Company). The state guarantee agreement secures obligations of the Company to the NIB according to the loan agreement entered on 20 December 2019 for a term up to 25 years (hereinafter – Agreement) to finance the balancing of the LNG terminal security additional component to the natural gas transmission price (hereinafter – Security Component).  

The state guarantee has been granted after fulfilment of all the conditions, specified in Resolution No. XIII-2718 of the Seimas of the Republic of Lithuania “Regarding granting of state guarantees to the Nordic Investment Bank”, dated 19 December 2019. For the benefit of the Ministry of Finance (the state): 1) the Company provided a bank guarantee in the amount of EUR 20 000 000; 2) mortgaged Subacius oil terminal; 3) paid a guarantee fee in the amount of EUR 134 145; 4) concluded an agreement with the Ministry of Finance until 31 January 2025 to pledge current and future amounts receivable from the Security Component.

The Company announced about the conclusion of the Agreement in the Company’s notification on material event, dated 20 December 2019.


Jonas Lenkšas, Chief Financial Officer, +370 694 80594.