Independence planned for Klaipeda Nafta company

VILNIUS (BNS) - Klai-peda's petroleum product terminal will not become part of the Mazeikiai Nafta oil refinery, according to the Lithuanian Ministry of Economics.

This stance was adopted in talks between the Economics Ministry and the U.S. company Williams International, the strategic investor in the Lithuanian oil sector. This was the first time the parties met to discuss this question.

"We agreed with Williams that Klaipeda Nafta shouldn't be incorporated into the Mazeikiai Nafta complex, it shouldn't become part of the concern," said Edumdas Strodomskas, Klaipeda Nafta's executive director.

Strodomskas said that if that agreement had not been reached by July 15, negotiations between Williams and Klaipeda Nafta would have been over.

"The Economics Ministry's position was that Klaipeda Nafta shouldn't belong to Mazeikiai Nafta," Strodomskas said.

Now negotiations will continue, but only cooperation will be discussed. In the future Williams wants to export refined petroleum products through Klaipeda. Klaipeda Terimalas also has a stake in that.

Strodomskas said concrete conditions of agreement have not yet been drawn up. That is on the agenda for the next meeting.

The executive of Klai-peda Nafta will disclose by Friday under what conditions it can work with Williams.

After reconstruction Klaipeda Terminal's annual capacity will reach 6 million tons of oil products.