30.08.2013
The agreement for disbursement of funds of the liquefied natural gas terminal is signed

On 29 August 2013 AB Amber Grid and AB Klaipedos Nafta signed the agreement for disbursement of funds of the liquefied natural gas terminal (hereinafter, LNGT) (hereinafter, the Agreement). 

AB Amber Grid, performing the activities of the operator of the natural gas transmission system of the Republic of Lithuania, acts under the procedure and conditions set by legal acts as the administrator of the funds intended for compensation for the expenses of construction and operation of the LNGT, its infrastructure and connection, in full or in part (hereinafter, the LNGT funds). AB Klaipedos Nafta, currently performing the functions of the LNGT project implementation company, acts under the procedure and conditions set by legal acts as the recipient of the LNGT funds, having the right to receive the LNGT funds collected and administered by the administrator of the LNGT funds and to use them under the procedure set by legal acts. 

By the said Agreement the Companies established and set out in detail the procedure and conditions of disbursement of the LNGT funds collected by AB Amber Grid to AB Klaipedos Nafta. Under the Agreement AB Amber Grid will disburse to AB Klaipedos Nafta 1/12 of the LNGT funds intended for compensation for the expenses of operation of the LNGT, its infrastructure and connection, in full or in part, as approved by the National Control Commission for Prices and Energy for the reporting year, each month. The LNGT funds will be disbursed to the beneficiary, when an order regarding the disbursement of the LNGT funds is issued by the National Control Commission for Prices and Energy.

Referring to Resolution No. O3-317 of the National Control Commission for Prices and Energy of 19 October 2012, the amount of the LNGT funds approved for 2013 for compensation for the expenses of construction of the LNGT, its infrastructure and connection, in full or in part, is LTL 113,798,000.
 

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