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TGS Baltic has acted as the principal legal adviser to AB Klaipedos Nafta on a 700-million-euro project to develop a Liquefied Natural Gas (LNG) terminal, marine infrastructure and gas pipeline – Lithuania's largest strategic investment project to date.
The firm is engaged in all legal matters related to implementation of the project, ranging from regulatory, complex public procurement and general corporate matters to significant project financing and infrastructure issues.
TGS Baltic assisted Klaipedos Nafta with advice on the structure of the project and conclusion of a time charter party on a lease of a Floating Storage and Regasification Unit (FSRU) as well as ongoing tenders to purchase construction works for terminal infrastructure.
As the LNG Terminal is part of the gas supply infrastructure system, there was a need to integrate the terminal into the gas transmission system and to harmonize project and energy sector legislation. The firm advised Klaipedos Nafta on Lithuania's draft Law on the Liquefied Natural Gas Terminal and various resolutions of the Lithuanian Government related to the LNG terminal project.
Klaipedos Nafta is a state-owned company which manages one of Europe's most modern oil terminals. Its core activities are to tranship exported oil products from rail tank-cars into tankers and to provide Lithuania with imported crude oil and oil products shipped to the Klaipеda port by tanker. Klaipedos Nafta is implementing the LNG terminal project, which is intended to ensure Lithuania's security of natural gas supply and diversification of supply sources. The project is supported by the Government of Lithuania and is formally designated as having major economic significance to the state.
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