Rokas Masiulis, General Manager of Klaipedos Nafta

The Klaipeda-based enterprise Klaipedos Nafta and the energy company Lietuvos Energija signed the preliminary contract that turned to be the first step in the negotiations regarding the volumes and terms of gas supply from the projected Liquefied natural gas (LNG) Terminal, the company reports to NASDAQ OMX Vilnius.

During the implementation of the LNG Terminal's project, the parties have committed to exchange information and specify all the related data necessary for the conclusion of the main agreement, reports LETA/ELTA.
The Contract also provides for Klaipedos Nafta, the company responsible for the project, to put all efforts so that the LNG Terminal's capacity would allow guaranteeing the total gas volume necessary for Lietuvos Energija.
The parties will specify the gas volumes, terms of delivery, pricing principles, distribution of responsibilities in the main Agreement that is expected to be signed by December 31, 2012.
The LNG Terminal in Klaipeda Seaport is expected to start its operation by the end of 2014.