Norway’s marine energy infrastructure solutions expert Höegh Evi has formally transferred ownership of the floating storage and regasification unit (FSRU) 2014-built Independence to KN Energies and the country of Lithuania, after KN Energies exercised its option to buy.
The company will continue to provide KN Energiés with technical and operational management of the vessel for the next five years, with an option to extend this by a further five years.
The FSRU unit was commissioned by the Republic of Lithuania in 2014 and was engineered with regasification capacity to fully meet the country’s gas needs.
The deal between Höegh Evi and the Republic of Lithuania provided for the option to acquire and own the FSRU by the end of 2024.
Höegh Evi said “the transfer of ownership to the state underscores Lithuania’s long-term commitment to maintaining this critical asset.”
The president of the Republic of Lithuania, Gitanas Nausėda, commented that Klaipėda’s LNG terminal stands as a powerful symbol of Lithuania’s political resolve, determination, and commitment to achieving energy independence.
“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.”
Under Höegh Evi’s management, the FSRU unit has supplied nearly 16 billion cubic meters of natural gas to Lithuania and surrounding countries, with close to 500 ship-to-ship operations.
Erik Nyheim, president and CEO of Höegh Evi, noted: “The acquisition of the FSRU Independence by Lithuania is a proud moment for Höegh Evi. A decade ago, Lithuania’s vision to leverage marine infrastructure for energy security set a powerful example.
“The Independence is now a cornerstone of the region’s critical energy infrastructure.”
