COBALT is advising Höegh LNG, a major Norwegian provider of maritime LNG transportation and regasification services, and its Lithuanian subsidiary UAB Hoegh LNG Klaipeda on legal matters related to smooth launching of the LNG terminal project at the beginning of 2014, including, without limitation, negotiating the premises lease agreement in Klaipėda. The project is valued at EUR 128 m.
The Lithuanian floating storage and regasification (FSRU) project is one of the strategic projects of the Lithuanian Government, aimed at decreasing dependence of Lithuania’s energy sector on Russian energy resources. After the smooth launch of the Klaipėda LNG FSRU, Lithuania became the fifth country in the world to use FSRU technology for liquefied natural gas. At the 8th European Gas Conference 2015 in Vienna, Austria, Klaipėda LNG terminal won the Project of the Year award.