Positive decision regarding the allocation of resources from the European Union Modernization fund to the Klaipeda LNG terminal electrification project

International energy terminal operator AB KN Energies (hereinafter referred to as the Company) reported that at the meeting of the Investment Committee of the European Union Modernization Fund program on 22 October 2024, a positive decision was reached to allocate support in the amount of EUR 6 million for the Klaipeda LNG terminal. electrification project (hereinafter – Project). The implementation of the project is planned to take place within a three-year period following the final investment decision, which is expected to be made by the Company management in the first quarter of 2025.

The aim of the project is to reduce CO2 emissions related to the activities of the Klaipeda LNG Terminal, thereby reducing the associated costs and improving the overall operational efficiency of the Klaipeda LNG terminal. The allocation of funds will have a positive impact on the overall financing structure of the project.

For more information:
Tomas Tumenas,
Financial Affairs Director
Wire. +370 46 391 772