The Lithuanian flag was raised over the FRSU Independence on 6 December, which marked the formal handover of ownership of the floating storage and regasification unit to Lithuania. The vessel arrived in Klaipėda exactly 10 years ago and it was leased until now. The new owner, KN Energies, states that since the LNG terminal began operations, Lithuanian gas consumers have saved an average of 160 million euros annually.
During the official ceremony of handover, President Gitanas Nauseda described the ship as a symbol of energy security for the entire region. “This project has transformed our energy architecture, turning vulnerability into strength and dependence into self-reliance,” he said. “For the first time, we were able to independently decide our energy sources and supply routes. This has ended decades of Russian monopoly and political sabotage.”
Darius Šilenskis, CEO of the FSRU’s new owner, KN Energies, stated that the timely decision to operate the terminal has already proven beneficial for Lithuania, not only in terms of energy security but also financially. “Since the LNG terminal began operations, Lithuanian gas consumers have saved an average of 160 million euros annually due to cheaper gas,” said the CEO.
In total, the LNG terminal is used by gas supply companies from five countries: Lithuania, Poland, Latvia, Norway and Estonia. It has a nominal capacity of 33 terawatt-hours (TWh) per year, while Lithuania’s natural gas consumption was 14.9 TWh in 2023.
Since 1 January 2015, the terminal has regasified close to 16 billion cubic metres (bcm) of natural gas, delivered to Lithuania by 79 different LNG carriers. Most of the gas has come from the United States and Norway. There were also shipments from Trinidad and Tobago, Nigeria, Egypt, Equatorial Guinea and Algeria.
Until recently, the LNG terminal FSRU Independence was leased from the Norwegian company Höegh Evi. However, the Law on Liquefied Natural Gas Terminal provides for the obligation to acquire and own the floating LNG FSRU by the end of 2024 and to ensure her operation until 31 December 2044. The final decision to acquire the FSRU Independence was made in 2022. Hoegh LNG Klaipėda, part of the Höegh Evi Group will continue as the technical operator of the FSRU Independence after it became a Lithuanian property.