Notice on results of the tender for development of the Cyprus LNG terminal

AB Klaipedos nafta (hereinafter – the Company) informs that in the tender for the development of the Cyprus liquefied natural gas (hereinafter – the LNG) terminal, in which the Company participated as a contractor and partner of the consortium, another consortium was selected as winning.

Comment by the management of the Company:

Although the tender didn’t result as aimed, Company‘s competent and high-quality work has been positively evaluated by consortium partners and LNG market renown companies Mitsui O.S.K. Lines and Samsung C&T. 

This partnership acknowledges Company’s expertise for management and operations of floating technology based LNG import terminals globally. 

Furthermore, the efforts and work done by the Company did not go unnoticed by other existing and potential partners of the Company. For this reason, it is likely that with similar types of opportunities in future the Company might be approached as well.

The Company maintains its further interest in LNG import terminals globally as operation and management of this kind of projects is Company’ strategic direction.

The Company informed about the submitted bid proposal in the tender for development of the Cyprus LNG terminal by notification of material event on 30 July 2019.