News and insights
During the first half of the year KN focused on operational efficiency
Taking into account the upheaval caused by the coronavirus in the global and local market, during the first half of 2020 KN (AB Klaipėdos Nafta), the operator of oil and LNG terminals, mostly focused on efficient cost management and operational efficiency. Although the company managed to achieve the planned result…
Klaipeda oil terminal records a jump in crude oil handling
At the beginning of August, Klaipeda oil terminal operated by KN (AB Klaipedos Nafta) is expecting to receive the tanker UMLMA, which will deliver the second crude oil cargo from US to Belarus. The tanker will bring approximately 75 thousand tons of crude oil and it will be the 9th…
KN increases the volume of biofuel handling
Since the beginning of the year, more than 37 thousand tons of biofuels have been handled at Klaipėda oil terminal operated by KN (AB Klaipėdos Nafta). In comparison, only a little more than 5 thousand tons were handled throughout 2019. The handling of biofuels is one of the driving forces…
KN will use external expert services to implement the long-term LNG supply solution
KN (AB Klaipėdos nafta), the operator of oil and liquefied natural gas (LNG) terminals, will use external expert services to implement the long-term LNG supply project. In this step, KN continues the implementation of the LNG long-term supply solution and announces a public market consultation on the planned procurement of…
Delayed effect of COVID-19 in oil handling business
Comment by Darius Šilenskis, CEO of KN Record low oil prices due to extremely low demand for oil products and falling refining margins are delayed results of the COVID-19 pandemic, which does not pass the oil and oil product handling business. The warm winter and the failed negotiations of OPEC+…
FIRST OIL SHIPMENT FROM THE USA IN HISTORY HAS REACHED KN
On the evening of June 5, the tanker NS Captain moored at the quay of Klaipėda Oil Terminal managed by KN (AB Klaipėdos nafta), bringing 77,000 tons of crude oil cargo from the USA which is to be used by Belarusian oil refineries. The tanker NS Captain arrived in Klaipėda…
The Capacities of Klaipėda LNG Terminal have been allocated
KN (AB Klaipėdos Nafta), the operator of oil and liquefied natural gas (LNG) terminals, has completed the annual procedure of allocating LNG terminal capacities for the new gas year, which goes from 1 October 2020 to 30 September 2021. During this procedure, two customers have signed agreements for the regasification…
Klaipėda LNG Terminal is an established player in the global market
The second largest LNG cargo this year will be imported from the United States and regasified through the liquefied natural gas (LNG) terminal in Klaipėda. About 155 thousand cubic metres of LNG is delivered by the gas carrier Energy Liberty, which is expected to reach the terminal tonight, from May…
KN stabilises its performance, despite difficult circumstances
KN earned an adjusted net profit of 3.9 million Euros in the first quarter of 2020, despite the difficulties of this period which has presented significant challenges for the global economy and business. This net profit is a 30 per cent increase on the figures for the same period in…
Net profit of the KN for 2019 will be paid as dividends with shareholder approval
KN, the operator of the oil and liquefied natural gas (LNG) terminal, will pay the amount of 7.9 million Euros (EUR 0.02 per share) – the total net profit for 2019 – in dividends to their shareholders. This is the third year in a row that the company has paid…
Allocation of the capacity of Klaipeda LNG terminal begins
KN (AB Klaipėdos nafta), the operator of oil and liquefied natural gas (LNG) terminals, is launching an annual procedure – allocation of LNG terminal capacity for the new gas year, which starts in October 1, 2020. The Company allocates the capacity in accordance with the Regulations for the Use…
CLEANING WORKS OF THE PORT’S WATER AREA BY THE LNG TERMINAL WERE COMPLETED
The maintenance dredging works in the liquified natural gas (LNG) floating storage and regasification unit terminal were completed in the southern part of Klaipeda Seaport earlier than planned. So, the floating storage and regasification unit Independence renewed its activities successfully on Monday in its usual location. “The maintenance dredging…
