OREANDA-NEWS. AB Klaipedos nafta (hereinafter, the Company) concluded the Contract for Engineering and Construction Works of Port Infrastructure with Suprastructure (hereinafter, the Contract) with the winner of the international tender “Procurement of Engineering and Construction Works of Port Infrastructure (Jetty) with Suprastructure (Equipment) of Liquefied Natural Gas Terminal” with the Akciju sabiedriba (transl. – stock company) “BMGS” regarding engineering and construction works (hereinafter, the Works) of port infrastructure with suprastructure of liquefied natural gas terminal. The Company notified on the winner of the Works on 1 March 2013, by announcing the notifications on material event.

The main conditions of the Contract inter alia include the following:

(i) The total fixed price for all the works under the Contract shall not exceed 27 190 000 EUR (twenty seven million one hundred ninety thousand euro) without VAT (93 881 632 LTL without VAT). This fixed price can increase only in the exclusive cases provided for in the Contract. AB Klaipedos nafta shall be paying the indicated fixed sum only for the actual works performed under the Contract.

(ii) All the works under the Contract shall be finished till 1 October 2014. The performance terms may only be extended in the exclusive cases set forth in the Contract.

The Agreement shall enter into force upon the approval of the general shareholder meeting of Klaipedos nafta, AB, as provided for in Article 16.10 of the Articles of Association of Klaipedos nafta AB.