Acquisition of FSRU Independence Complete, Marking Milestone for Lithuania Gas Operations
KN Energies has completed its acquisition of the floating storage and regasification unit (FSRU) Independence from Höegh Evi, marking a significant milestone in Lithuania’s energy development.
The Independence was commissioned by the Republic of Lithuania in 2014 and was engineered with regasification capacity to fully meet the country's gas needs. The agreement between Höegh Evi and the Republic of Lithuania provided for the option to acquire and own the FSRU by the end of 2024.
"Klaipėda's LNG terminal stands as a powerful symbol of Lithuania's political resolve, determination, and commitment to achieving energy independence,” said Gitanas Nausėda, the President of the Republic of Lithuania. “It has played a pivotal role in reshaping the country's energy landscape and enhancing regional energy security, opening up new opportunities for diversification. The terminal represents Lithuania's frontline in the ongoing pursuit of energy independence, and we take immense pride in the fact that the Lithuanian flag will now proudly fly over it."
FSRU Independence
Under Höegh Evi's management, the Independence has supplied nearly 16 billion cubic meters of natural gas to Lithuania and surrounding countries. It has maintained a strong operational record, with close to 500 ship-to-ship operations and no safety incidents.
"The Independence is a cornerstone of Lithuania’s critical energy infrastructure. Höegh Evi is honored to continue working with KN Energiés to provide Lithuania and its neighbors with a reliable supply of natural gas," said Erik Nyheim, President & CEO of Höegh Evi.
After the transfer of ownership, Höegh Evi will continue to provide KN Energiés with technical and operational management of the vessel.
Related News
Related News
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Boardwalk’s Texas Gas Launches Open Season for 2 Bcf/d Marcellus-to-Louisiana Pipeline Expansion
- New Alternatives for Noise Reduction in Gas Pipelines
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- DOE Considers Cutting Over $1.2 Billion in Carbon Capture Project Funding
Comments