Lithuanian terminal operator Klaipedos Nafta has secured financing to buy the floating storage and regasification unit that it is currently leasing to import liquefied natural gas into the Baltic Sea nation.

Klaipedos Nafta has agreed an up to 25-year maximum €160 million ($181.3 million) loan with the Nordic Investment Bank (NIB) to fund the acquisition of Hoegh’s FSRU Independence after the vessel’s existing 10-year lease expires in 2024.

The Lithuanian company had earlier secured another loan to finance the lease of the LNG import terminal, which has annual capacity of 4 billion cubic metres of gas.