KN AND THE US LNG SUPPLIER FREEPORT LNG SIGNED A MEMORANDUM OF UNDERSTANDING

On 3 April, KN (AB Klaipėdos nafta), the operator of oil and liquefied natural gas (LNG) terminals, and Freeport LNG, the US liquefied natural gas (LNG) supplier and the operator of the future LNG terminal, signed a memorandum of understanding (MoU) in Washington related to further cooperation between them in areas of development of onshore infrastructure needed for FSRU based LNG import terminals.

KN CEO Mindaugas Jusius says that the MoU with the US company once again proves that the experience and competence of Lithuanian energy professionals have gained worldwide recognition.

"KN has accumulated experience in developing and operating LNG import terminals. This agreement with Freeport LNG is another step towards implementing KN business development strategy. It will open up the possibility to offer KN services to potential Freeport LNG customers”, KN CEO comments on the signed memorandum of understanding.

The Freeport LNG terminal operates in the Gulf of Mexico, not far from the Sabine Pass terminal owned by the US company Cheniere Marketing International, which shipped the first LNG cargo to Lithuania last summer. The Freeport LNG terminal plans to start LNG export at the end of this year or early next year.