Shareholders approved the legal entity name change of AB „Klaipėdos nafta“

At an Extraordinary General Meeting of Shareholders convened on November 30th, shareholders of AB Klaipėdos nafta approved an update to the company's Articles of Association. This update includes a new legal entity name for the company. As it enters a new phase of activities, Klaipėdos nafta (KN) will change its legal name to KN Energies, effective January 10th, 2024.

This new name reflects the goals established in the company’s long-term operational strategy, presented in June 2023, to follow the path of sustainable energy by adapting to the worldwide energy transformation and switching from fossil fuels to new types of energy. Additionally, the new name is aimed at international markets, where the company is also developing its activities.
 
KN’s long-term operational strategy includes three main areas of activity: liquid energy products; liquefied natural gas (LNG) terminals; and work with new types of energy, such as synthetic fuel, hydrogen and its compounds, and other alternative energy carriers, as well as carbon dioxide capture and storage. The company plans to gradually diversify its activities, consistently creating the required new infrastructure while adapting the existing one.
 
Currently the company operates three terminals for liquid energy products in Klaipėda, Subačius, and Marijampolė, and is also the operator of liquefied natural gas (LNG) terminals in Lithuania and Brazil. KN also provides commercial operation services for two of Germany's three floating LNG terminals. To date, the company has contributed as consultant to various LNG projects around the world.
The name KN Energies is scheduled to be officially established once the updated Articles of Association undergo the notary process and they are registered in the Register of Legal Entities. The change of name will have no effect on the company’s employees, customers, and partners. The company’s obligations will remain unchanged, there will be no need to change contracts or agreements due to this change, and the address of the company’s registered office, address for correspondence, billing invoices, and other details will also remain the same. The brand also remains unchanged – KN will continue to use the brand which was updated in 2016. 
 
KN is an international energy terminal operator responsible for ensuring safe and reliable flows of liquid energy, loading of chemicals and raw materials for Baltic consumers, while also using the company’s knowledge and skills to assist clients around the world in developing sustainable energy infrastructure projects.