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On 8 July, the Seimas granted a state guarantee to Nordic Investment Bank to AB Klaipėdos Nafta for up to 20 years.
Klaipėdos Nafta
Klaipėdos Nafta
© DELFI / Šarūnas Mažeika

The EUR 34.75-million loan will help finance the Liquefied Natural Gas Terminal, with the Lithuanian government acting as guarantor, said AB Klaipėdos Nafta in a statement.

It was also established that the state guarantee regarding the above-mentioned loan will also be valid when the LNGT project implemented by the company and/or the works and/or the assets forming it are transferred and/or the LNGT activity performed by the company is moved to a subsidiary directly 100 percent controlled by the company under the procedure set by legal acts.

The Republic of Lithuania will maintain direct control over at least 67 percent of the shares of the company and the company will maintain 100 percent of the shares of subsidiary throughout the entire period of the loan.

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