Page 18 - EurOil Week 42 2022

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EBRD expected to approve which is important to the energy security of participating in a panel discussion at Russian
the region.
Energy Week in Moscow on October 13.
€16mn for North Macedonia for the safe and reliable operation of the FSRU, issue of energy cooperation is not a “political”
Hungary’s top diplomat confirmed that the
The chosen operator will be responsible for
gas interconnector with Greece the management of the vessel’s maintenance or “ideological” matter, but a “strictly
and technical risks, the fulfillment of
physical” one, and Budapest will not support
The European Bank for Reconstruction environmental requirements, the compliance any sanctions that endanger its secure energy
and Development (EBRD) is expected to of the FSRU operations with the requirements supply and will continue to seek energy
approve €16mn in early 2023 to co-finance of the flag state and the vessel class, and the cooperation with Moscow.
the construction of a gas interconnector with formation and coordination of the competent He called the operation of the TurkStream
Greece, the finance ministry announced on crew for the smooth operation of the FSRU pipeline – through which Hungary gets its
October 14. during the whole contract period, KN said in Russian gas – “extraordinarily important”, and
The interconnector is expected to be a statement. said incidents similar to the “sabotage” of the
built between the villages of Bogorodica and “Reliable and safe operations of the LNG Nord Stream pipelines must be avoided.
Stojakovo and will connect the country with terminal have always been our priority. Szijjarto met with Russian deputy PMs
the Southern Gas Corridor (SGC). However, the role of the LNG terminal is even Denis Manturov, Alexander Novak, and with
“In this way the financial framework more important now – it has become the most Rosatom Deputy CEO Kirill Komarov on
for this important project for energy significant natural gas import alternative in Thursday.
diversification will be completed,” the the region, and the highest level of expertise is A day earlier, he finalised terms of deferred
ministry said in a statement. critical,” Darius Silenskis, CEO at KN, pointed payment granted by Gazprom to Hungary for
So far, the European Investment Bank out. gas purchased during the winter. State-owned
(EIB) has provided €25mn for the project, The FSRU Independence will become KN’s energy group MVM agreed with Gazprom to
which will be also co-financed with a €12mn the property in late 2024 and the operator is defer its payments for gas purchases exceeding
grant from the Western Balkans Investment expected to be announced by late June, 2023. a certain threshold value, allowing Hungary to
Framework. Last February, the company’s shareholders pay for the gas over three years if prices surge.
The total cost of the project is estimated at approved the vessel’s acquisition from Hoegh Late payment of gas will ease pressure on
over €50mn. LNG. Lithuania started leasing the vessel from the country’s widening trade deficit, as soaring
According to the EIB, the project will the Norwegian company in 2014, with the energy prices will lift Hungary’s energy
enable North Macedonia to provide security contract expiring in late 2024. imports by some €15bn this year.
of gas supply and competition between supply The FSRU Independence’s buy-out price Czech Foreign Minister Jan Lipavsky
sources, by offering diversification of routes stands at $153.5mn, excluding VAT, (around (Pirates) called Szijjarto’s participation in the
and sources. €145mn at today’s exchange rate). The market energy forum in Moscow “scandalous”.
watchdog’s agreed buy-out price is €138.4mn,
excluding VAT, and it cannot exceed €160mn,
Lithuania’s Klaipedos Nafta including VAT, as this is the amount the
Nordic Investment Bank will lend the
to seek FSRU Independence’s Lithuanian company, LRT.lt said.
operator

Klaipedos Nafta (Lithuanian Oil, KN), an oil Hungary seeks continued
and LNG terminal operator in Lithuania, has energy cooperation with
launched a public tender for operation and
maintenance (O&M) services for its new LNG Moscow, foreign minister
terminal vessel, as the company gets ready
to buy the floating storage regasification unit says at Russian Energy
(FSRU) Independence from Norway’s Hoegh
LNG which is now leasing the vessel, LRT.lt, Week
the website of Lithuanian national broadcaster
LRT, reported on October 17. Sanctions against Russia are more painful for
The contractor will be selected with Europe and Hungary than for Moscow, as
a strong focus on the experience in the Hungary’s spending on energy is set to reach
operation of facilities such as the FSRU €19bn this year and could climb to €29bn
and the ability to ensure the smooth and next year from €7bn in 2021, said Minister of
uninterrupted operation of the LNG terminal, Foreign Affairs and Trade Peter Szijjarto while

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