The project is allocated in the harbor of Klaipeda in Lithuania. The project "scope of work" includes lease and operation of a jetty moored FSRU. The FSRU has a regas capacity to supply 100% of Lithuania´s current demand of natural gas.
The time charter is for a 10 year charter party with a purchase option offered after the lease period. The EBITDA contribution is approximately USD 50 million per year for 10 years, totalling approximately USD 500 million.
In November 2012, Höegh LNG signed the final documentation with four banks for a USD 250 million corporate senior secured facility for the financing of the floating storage and regasification unit to be delivered for Klaipedos Nafta's LNG import terminal project in Lithuania. The Facility is 75% guaranteed by the Korean credit agency K-sure and the Norwegian credit agency GIEK. It has a tenor of seven years and an overall profile of 16 years. The interest rate has been swapped from floating to fixed for the length of the underlying commercial agreement resulting in a total fixed interest rate of 5.1%
The Lithuania floating storage and regasification project will consist of one of Höegh LNG’s newbuilding regasification vessel (FSRU) under construction at Hyundai Heavy Industries (HHI), hull no 2549.
| Classification |
Det Norske Veritas |
| Length overall |
290.00 m |
| Breadth moulded |
50.00 m |
| Service speed |
18 knots |
| Storage volume |
170 000 m3 |
| Power pack |
Dual fuel engines |
| Regas capacity |
About 400 mscf/d |