Klaipedos Nafta Seeks Azeri Supplies for Lithuanian LNG Terminal

Lithuania’s Klapeidos Nafta is seeking Azeri gas supplies for the country’s planned liquefied natural gas terminal, reports the Baltic News Service, citing an unamed source.

Chief Executive Officer Rokas Masiulis is meeting oil and gas companies in Azerbaijan this week, the newswire said.

Majority state-owned Klaipedos Nafta and Höegh LNG of Norway recently cut a deal to build a $500 million floating LNG terminal, following the approval of the deal by Klapeidos' shareholders. Work is expected to commence on the project from the second half of 2014.  

Following the approval from the Klapeidos Nafta shareholders, the project will continue as planned and the contract between the companies will be concluded.