On the conclusion of EUR 35 million credit agreement by UAB “Ignitis”, a subsidiary of AB “Ignitis grupė”

AB “Ignitis grupė” (hereinafter – the Group) informs that its subsidiary UAB “Ignitis” (hereinafter – the Company) on 10 November 2021 concluded a credit agreement valued up to EUR 35 million (hereinafter – the Credit Agreement) with AB SEB bankas.

As the Group announced on 27 August 2021, the Management Board of the Company approved the amendment of the purchase contract (hereinafter – the Contract) with Equinor ASA related to the designated liquefied natural gas (hereinafter – LNG) supply. The Contract established a more favourable LNG cargo supply structure and, after the amendment of the Contract, the difference between the price paid for purchasing LNG cargoes as per the Contract and the average price of gas imported to the Republic of Lithuania will be much more stable.

The Credit Agreement is concluded in accordance with the condition provided in the amendment of the Contract which obligates the Company to increase the value of collaterals in order to ensure a proper performance of contractual obligations during the validity of the Contract.

The Credit Agreement does not include additional measures ensuring the fulfilment of Credit Agreement obligations.

For more information please contact:

Artūras Ketlerius
Head of Public Relations at Ignitis Group
arturas.ketlerius@ignitis.lt
+370 620 76076