OREANDA-NEWS. November 21, 2011. ORLEN Lietuva and the state-owned Klaipedos Nafta have signed a new agreement for transshipment of petroleum products. The new contract is based on optimal assessment of mutual needs and will be effective until the end of 2024.

"I believe that this long-awaited agreement will ensure a successful and long-term business operations for ORLEN Lietuva and our partner Klaipedos Nafta" - said Ireneusz Fafara, general director of ORLEN Lietuva.

Rokas Masiulis, general director of Klaipedos Nafta, noted that the current amendments of the 2002 agreement removed the excessive commitments and ensured the favorable transshipment conditions for both companies. “We had a constructive dialogue with ORLEN Lietuva and recognized needs and expectations of both sides which led to the mutually beneficial agreement. This agreement secures a reliable business partner for Klaipedos Nafta for 13 years” – said Masiulis.

ORLEN Lietuva has been shipping its products via Klaipedos Nafta since 2000. During the ten months of this year ORLEN Lietuva has handled 3.3 million tons of its products via Klaipedos Nafta. In 2010, ORLEN Lietuva transshipped 3.2 million tons of light petroleum products and 1.5 million tons of dark petroleum products via Klaipedos Nafta terminal.

ORLEN Lietuva owns and operates a refinery, a crude oil and petroleum product pipeline network, a marine terminal, and a network of fuel stations. 100 percent of ORLEN Lietuva’s shares are owned by the Polish oil company Polski Koncern Naftowy ORLEN S.A. ORLEN Lietuva is the country’s largest tax payer, largest company by revenues and one of the largest exporters. The Company is the major supplier of petroleum products to the Lithuanian, Latvian and Estonian markets. It also exports its products to Western Europe, the USA, Ukraine and other countries.