News and insights
PGNiG commences operations at Klaipėda LNG reloading station
On Wednesday, April 1st, the Polish oil and gas company PGNiG commences commercial operations at the KN-operated Klaipėda liquefied natural gas (LNG) reloading station. The capacities of the station, which will allow more efficient entry into the small-scale regional LNG market, is reserved for a strategic partner for five years….
THE FSRU WILL BE MOVED FROM ITS NORMAL LOCATION DUE TO DREDGING WORKS
From March 30 to April 5, the floating storage and regasification unit (FSRU) will be moved from the usual location of the terminal near Kiaulės Nugara Island as the Klaipėda State Seaport Authority (KSSA) will carry out the cleaning of the port waters. During this period, the operation of Independence…
Customers of Klaipėda LNG Terminal actively take advantage of low gas prices
The ambitious LNG segment development plans set out in KN's strategy for 2030, approved last month, have a solid foundation: Klaipėda Liquefied Natural Gas (LNG) Terminal operated by KN continues to register record levels of intensive and efficient operations. The volumes of activity in February exceeds the rates of last…
NIB continues partnership with KN
The Nordic Investment Bank (NIB) and Lithuanian liquefied natural gas (LNG) and oil terminal operator AB Klaipėdos Nafta (KN) have signed a 25-year loan agreement to finance the purchase of a floating storage regasification unit (FSRU) for LNG operations. Currently, the FSRU used for LNG import to Lithuania is leased…
BREAKTHROUGH IN THE FIELD OF LNG BUNKERING: A VESSEL FILLED WITH LNG FOR THE FIRST TIME IN KLAIPĖDA PORT
On March 8, a liquefied natural gas (LNG) powered vessel was successfully bunkered for the first time in the port of Klaipėda. During this operation, the fuel tank of the cement carrier MV Greenland was filled with gas at the Malkos Bay Terminal. In the first LNG bunkering operation, as many as…
Digitization of KN: Paper is no longer used in the operation of Klaipėda LNG terminal
Paper has been completely relinquished in the operation of KN Klaipėda liquefied natural gas (LNG) terminal since February and the submission of reports required for the operation is carried out only in digital way. One of the goals of the Digitisation and Innovation Strategy launched by the KN in…
THE KN STRATEGY 2030 HAS BEEN APPROVED: BRIDGING ENERGY MARKETS
The supervisory board of KN, the oil and LNG terminal operator, has approved the company's corporate strategy until 2030. The main directions defined in the strategy are international LNG projects, strengthened competitiveness of oil terminals and development of Klaipėda as an LNG hub in the Baltic region. The slogan of…
KN WILL OPERATE GNA’s LNG IMPORT TERMINAL IN BRAZIL
KN has been appointed as the operator of a liquefied natural gas (LNG) terminal in the Brazilian Port of Açu. KN, KN Açu Serviços de Terminal de GNL Ltda. (Brazilian SPV) and Gas Natural Açu (GNA), which is a joint venture among Prumo Logistica, BP and Siemens, signed a respective…
CHALLENGING 2019 INCREASED FOCUS ON THE EFFICIENCY OF KN OPERATIONS
2019 provided plenty of challenges in the business environment, but encouraged KN to review its business processes and look for new ways to increase value of the services that it provides to its customers. According to unaudited financial statements, this generated 13.2 million euros or 14% higher adjusted net profit…
Maintenance of Klaipėda LNG terminal will cost even less
On the 30th of December the National Energy Regulatory Council (hereinafter – the NERC) has lowered a natural gas security component by 38.55%, effective from 01 January 2020. Lowering of the security component, when compared to the current security component, will save natural gas consumers 36.1 million euros per year….
NIB continues to finance LNG operations in Lithuania
The Nordic Investment Bank (NIB) and Lithuanian liquefied natural gas (LNG) and oil terminal operator AB „Klaipedos Nafta“ (KN) have signed a EUR 134.1 million loan agreement to optimize costs of LNG terminal. The 25-year maturity loan will be directed to finance the rent payable for the Floating Storage and Regasification Unit…
Operation of Klaipėda LNG terminal will benefit all residents of Lithuania
Under the operation of KN, the operator of oil and liquefied natural gas (LNG) terminals, volumes at Klaipėda LNG terminal improved significantly in November, potentially reducing Lithuanian gas prices. In the last month of autumn, the volume of gas re-gasified at LNG Terminal was one-fifth higher than the volume of…
