February 8, 2012 / 4:13 PM / 8 years ago

Lithuania LNG terminal to cost preliminary $262 mln

VILNIUS, Feb 8 (Reuters) - Lithuania LNG terminal would cost preliminary 682 million litas ($261.6 million), the company in charge of the project said on Wednesday.

Klaipedos Nafta, a majority-state owned company which manages an oil terminal, has been charged with also developing a liquefied natural gas (LNG) terminal at Klaipedos port.

The company said in a statement to the stock exchange it planned to invest 532 million litas, while Klaipedos port would come with another 150 million litas to prepare the infrastructure.

In January, Klaipedos said it picked Norway’s Hoegh LNG to supply and maintain an offshore platform for imports of LNG to end-2014.

The contract, which is expected to be sign within a month, will be based on a 10-year leasing period, after which Klaipedos Nafta will have the right to purchase the FSRU.

Lithuania wants an alternative gas supplier to Gazprom as the Baltic state, which joined the EU and NATO in 2004, depends entirely on Russian gas supplies. ($1 = 2.6075 Lithuanian litas) (Reporting by Nerijus Adomaitis, editing by William Hardy)

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