| Work Detail |
International energy terminal operator AB KN Energies (hereinafter – KN, the Company) has selected a contractor to implement Klaipeda LNG terminal electrification project. Following the companys international public procurement process for engineering, procurement and construction (EPC) works, AB Kauno tiltai, a specialist in roads, bridges, and infrastructure project, was selected as the winner. The contract for the engineering, procurement, and construction works of the power line connection with the Klaipeda LNG terminal, signed between the Company and AB Kauno tiltai, is valued at EUR 19.3 million excluding VAT. For this amount, the contractor is committed to designing and installing the electrical cable necessary for the LNG floating storage regasification unit (FSRU) Independence. The cable will run through the territory of Klaipeda city and beneath the Curonian Lagoon. In addition, the required infrastructure will be designed and built at the LNG terminal jetty and on the FSRU itself to enable shore connection. This is a technological solution where a ship moored at the jetty is supplied with electricity from the onshore grid, allowing auxiliary internal combustion engines to be shut down. At the beginning of April 2025, a subsidy agreement was signed with the Environmental Project Management Agency, under which EUR 6 million in funding from the European Union’s Modernisation Fund Program was allocated for the implementation of the project. The remaining amount required for the implementation of the project is planned to be borrowed by the company from commercial banks. KN has also secured the approval of the National Energy Regulatory Council regarding investment of Klaipeda LNG terminal electrification project inclusion into regulated asset base. The project is expected to be completed within three years. |
