HAMILTON, Bermuda and KLAIPĖDA, Lithuania, Dec. 6, 2024 /PRNewswire/ -- Höegh Evi, a global leader in marine energy infrastructure solutions, has officially transferred ownership of the floating storage and regasification unit (FSRU) Independence to KN Energies and the country of Lithuania, marking a significant milestone in the nation's energy development.

The Independence was commissioned by the Republic of Lithuania in 2014 and was engineered with regasification capacity to fully meet the country's gas needs. The agreement between Höegh Evi and the Republic of Lithuania provided for the option to acquire and own the FSRU by the end of 2024. The transfer of ownership to the state underscores Lithuania's long-term commitment to maintaining this critical asset.

"Klaipėda's LNG terminal stands as a powerful symbol of Lithuania's political resolve, determination, and commitment to achieving energy independence. It has played a pivotal role in reshaping the country's energy landscape and enhancing regional energy security, opening up new opportunities for diversification. The terminal represents Lithuania's frontline in the ongoing pursuit of energy independence, and we take immense pride in the fact that the Lithuanian flag will now proudly fly over it," said the President of the Republic of Lithuania, Gitanas Nausėda.

Independence: a symbol of success in energy security

Under Höegh Evi's management, the Independence has supplied nearly 16 billion cubic meters of natural gas to Lithuania and surrounding countries. It has maintained a strong operational record, with close to 500 ship-to-ship operations and no safety incidents.

"The acquisition of the FSRU Independence by Lithuania is a proud moment for Höegh Evi. A decade ago, Lithuania's vision to leverage marine infrastructure for energy security set a powerful example. The Independence is now a cornerstone of the region's critical energy infrastructure. Höegh Evi is honoured to continue working with KN Energiés to provide Lithuania and its neighbours with a reliable supply of natural gas," said Erik Nyheim, President & CEO of Höegh Evi.

Höegh Evi to continue as technical operator of FSRU Independence

After the transfer of ownership, Höegh Evi will continue to provide KN Energiés with technical and operational management of the vessel.

"While the ownership of Independence is changing, our decade-long partnership with Höegh Evi remains strong. Hoegh LNG Klaipėda, part of the Höegh Evi group, will continue to provide technical operation and maintenance of the FSRU for the next five years, with an option to extend this cooperation for an additional five years. Over the years, the company has proven to be a reliable and trusted partner, and we are pleased to see this mutually beneficial and growth-oriented partnership continue," said Darius Šilenskis, CEO of KN Energies.

Media contact, Höegh Evi:

Christine Corkery Steinsholt
Head of External Communications and Marketing
Christine.steinsholt@hoeghevi.com | +47 95 09 5481

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