Regarding signing of Additional agreement to the General Bilateral Agreement on Development of Infrastructure / Suprastructure of Klaipėda Seaport

Klaipedos Nafta AB 

14.08.2012 18:11
---------------------------------------------------------------------------

On 14th August 2012 AB Klaipėdos nafta (hereinafter, the Company) and state
enterprise Klaipėda State Seaport Authority (hereinafter, the Authority) has
signed Additional Agreement to the General Bilateral Agreement on Development
of Infrastructure / Suprastructure of Klaipėda Seaport regarding the investment
and investment compensation order and conditions, whereby cooperation
conditions between the Company and Authority with respect to development of
liquefied natural gas terminal project were specified. 

Amongst other things, parties have agreed on preliminary estimated investments
into the infrastructure and suprastructure of Klaipėda Seaport (hereinafter,
the Port). It is estimated that: 

  -- Authority's investments into the preparation of the Port for the activities
     of LNG terminal (dredging works, equipment of radiolocation, upgrading of
     systems of the Port and etc.) shall be LTL 106.426.410 excluding VAT;
  -- Company's investments into the Port infrastructure (jetty and etc.), which
     shall be compensated by the Authority shall be LTL 54.203.577,53, excluding
     VAT;
  -- Company's investments into the suprastructure of the Port (equipment and
     systems necessary for the usage of LNG floating storage and regasification
     unit) shall be LTL 54.804.866,77, excluding VAT.

Precise amounts of investments shall be determined following conclusion of
contracts on provision of works under the procedure set by the Law on Public
Procurement of the Republic of Lithuania. 

Investments of the Authority into the infrastructure of the Port shall be
compensated from two sources, i.e. (i) charges paid by LNG terminal operator
and third persons, which use the Port due to the reason that they are serviced
or are servicing the LNG terminal and (ii) annual fee for the usage of the
jetty to be paid by the LNG terminal operator, which shall be calculated based
on amount of investments of the Authority into the infrastructure of the Port,
provided that period of return of investments is set at 20 (twenty) years and
internal rate of return is set at 5 (five) per cent. Calculated annual fee for
the usage of jetty shall be decreased by amount of aforementioned charges
received by the Authority for the usage of the Port and increased by amount of
direct and indirect expenses of the Authority incurred with respect to LNG
terminal. 




         Indrė Milinienė, Communication Manager
News Source: NASDAQ OMX



14.08.2012 Dissemination of a Corporate News, transmitted by DGAP - 
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      Klaipedos Nafta AB
              
               
              Lithuania
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         LT0000111650
WKN:          
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------