OREANDA-NEWS. On 29 December 2014 AB Klaipedos Nafta (hereinafter – the Company) and the Ministry of Finance of the Republic of Lithuania concluded an Agreement on the Margin Payment and Mortgage of Property as well as a Maximum Conditional and Ordinary Mortgage Agreement (hereinafter together – the Agreements).

Under the Agreements the Company undertook to make to the Ministry of Finance of the Republic of Lithuania margin payment in the amount of EUR 34,754.40 and to create second rank mortgage for the benefit of the State, inter alia, all the property created and/or acquired during the implementation of Liquefied Natural Gas Terminal (hereinafter – LNGT) project (the amount of maximum mortgage is equal to EUR 34,754,402).

As it was announced by the Company in its notification on material event of 8 July 2014, the Maximum Conditional and Ordinary Mortgage Agreement serves as condition precedent to issue a guarantee to Nordic Investment Bank, securing the undertakings of the Company to the Nordic Investment Bank under the Credit Agreement executed on 27 November 2014 (see notification on material event of 27 November 2014).