EMEA News
Lithuania's Klaipedos Nafta Establishes SGD Logistika For LNG Bunkering
Lithuania's majority state-owned oil terminal operator AB Klaipedos Nafta Friday announced that the company will launch LNG bunkering operations at Klaipeda, Lithuania.
Klaipedos Nafta said its board of directors has approved the creation of subsidiary UAB SGD logistika to perform the LNG bunkering activities, including operating a liquefied natural gas bunkering carrier.
The company added that it will partner with Germany's Bomin Linde LNG GmbH & Co. KG for a joint venture that will order construction of an LNG bunkering vessel.
SGD logistika is headed by Mantas Bartuska, and has authorised capital of 200,000 euros.
Klaipedos Nafta said it will offer LNG bunkering services to clients of an LNG distribution station under construction in Klaipeda.
Partner Bomin Linde LNG will provide support for the bunkering operations on the Baltic Sea at Klaipeda, and also provide services in the North Sea, the company said.
The company also announced that its board of directors has decided to issue guarantees for a number of aspects of SGD logistika's operations.
This will include guaranteeing the performance of the subsidiary's obligations under the joint venture with Bomin Linde LNG, the company said.
The company added that it will also guarantee payment of part of the rent of the LNG carrier.
Total liabilities to Klaipedos Nafta should not exceed $14 million, said the company.
Earlier this month, the Maritime and Port Authority of Singapore urged more ports in Asia to consider developing LNG bunkering capabilities.
