NIB finances gas pipeline in Lithuania

Amber Grid laying the Klaipeda-Kursenai gas transmission pipeline. Photo: Courtesy Amber Grid AB

NIB and gas transmission system operator Amber Grid AB have signed a EUR 32 million loan agreement for the construction of the Klaipeda-Kursenai gas transmission pipeline.

The 15-year maturity loan is provided for building a gas transmission pipeline between the liquefied natural gas (LNG) terminal in Klaipeda and the town of Kursenai, Lithuania.

The project aims to diversify the sources of gas supply in the Baltic region and to create conditions that make it possible to utilise the full potential of the LNG terminal in Klaipeda, while ensuring the security and reliability of gas supply.

The gas transmission pipeline is 110 km long and 800 mm in diameter. The pipeline project includes installing nine line block valve sites, two intelligent in-line inspection tools and four cathodic protection stations.

The gas transmission pipeline is scheduled to be operational by the end of 2015.

“NIB’s loan for Amber Grid’s pipeline project will help to diversify energy supply sources in Lithuania and allow for full utilisation of the capacity of the LNG terminal in Klaipeda”, says Henrik Normann, NIB President & CEO.

AB Amber Grid is Lithuania’s national gas transmission system operator. The company provides natural gas transmission services to power plants, district heating plants and industrial companies.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Kersti Talving, Senior Manager, Origination, at +358 10 618 0245,
mixIt(‘kerst’,’i.talving’,’nib.’,’int’,”,’1522841116252-1′);kersti.talving (at) nib.int

Arild Moen, Senior Communications Officer, at +358 10 618 0496,
mixIt(‘ar’,’ild.moen’,’n’,’ib.int’,”,’1522841116252-2′);arild.moen (at) nib.int