Notice on the submitted bid proposal in the tender for development of the Cyprus LNG terminal

AB Klaipedos nafta (hereinafter – the Company) informs that together with the consortium partners consisting of Korean companies Samsung C&T and Posco E&C as well as Japanese companies Mitsui O.S.K. Lines and Osaka Gas have submitted a binding bid proposal in the tender for development of the Cyprus LNG terminal. The Company participates in the tender as a contractor and partner of the consortium.

DEFA, the Natural Gas Public Company of Cyprus, announced an international public call for tenders in October 2018. According to the published specifications, LNG terminal will include a floating storage and regasification unit (FSRU), a jetty for mooring the FSRU, a jetty borne gas pipeline to secure supply of natural gas to the largest Vasilikos Power Plant in Cyprus. The project has been granted EU support accounting for over EUR 100 million. The total project budget is estimated at around EUR 500 million.

If case of winning the tender, the Company will team up with Mitsui O.S.K. Lines and Osaka Gas to provide terminal operator services for a period of up to 20 years.

DEFA should select winners of the tender later this year. The terminal in Cyprus is planned to start operations in 2021.

Jonas Lenkšas, Chief Financial Officer, .