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Lithuania Seeks Pipeline Memo Between Orlen and Klaipedos Nafta

Sept. 4 (Bloomberg) -- Lithuania supports talks between the state-controlled Klaipedos Nafta AB oil terminal and PKN Orlen SA’s Mazeikiu refinery on a possible new pipeline between the two operations, Energy Minister Jaroslav Neverovic said.

“The companies are talking and we’re looking forward to at least a memorandum-of-understanding agreement quite soon,” Neverovic said today in an interview in Krynica, Poland. “We need to see a win-win situation, with benefits for Mazeikiu, Orlen and also for Klaipedos Nafta.”

The government in the past opposed plans by Poland’s largest oil company to build a product pipeline from its Lithuanian refinery to the Baltic port of Klaipeda. Now it’s ready to reconsider if PKN Orlen ensures benefits for Klaipedos Nafta, which is 72 percent state owned, and invests to expand its Lithuanian unit, Orlen Lietuva AB, Neverovic said.

Development plans for Orlen Lietuva, which runs Mazeikiu and is Lithuania’s biggest company by revenue, “go hand in hand” with approval for the pipeline, the minister said. A memorandum on the project’s terms probably will be signed by the end of the year, he said.

To contact the reporters on this story: Radoslav Tomek in Krynica, Poland at rtomek@bloomberg.net; Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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