The auditors have found that the decision to lease the FSRU with an option to purchase it later, rather that buying it right away, is appropriate and that the lease price meets the competitiveness and efficiency criteria, according to information available to the paper.
Neither Glimstedt, nor Klaipėdos Nafta, nor the Energy Ministry would make an official comment on the findings of the audit.
The Energy Ministry in August asked Glimstedt to carry out a performance audit at Klaipėdos Nafta, the state-controlled company that is implementing the LNG terminal project.
The FSRU, named Independence, is being built in South Korea for Norway's Hoegh LNG, which will lease it to Klaipėdos Nafta for ten years starting September 2014. The lease will cost Klaipėdos Nafta 68.9 million US dollars annually, including the ship's maintenance, operation, crew and other expenses.
The contract gives the company the right to purchase the unit following the 10-year lease at a price that has not been disclosed.
