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AB Klaipedos Nafta announces February 2018 results

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LNG Industry,

AB Klaipedos Nafta has released preliminary activity and revenue results for February 2018.

In February 2018 AB Klaipedos nafta's LNG terminal re-gasified and supplied 328 000 MWh of natural gas to the natural gas transmission system. This marks a significant increase compared to the 105 000 MWh supplied in February 2017.

During the first two months of 2018 the company re-gasified and reloaded a total of 591 000 MWh of natural gas – a significant decrease from the 890 000 MWh re-gasified and reloaded during the same period of 2017.

The preliminary sales revenue of the company's LNG terminal for February 2018 comprised €5.3 million (comparable to that of February 2017 – €5.4 million). The revenue consists of the re-gasification tariff fixed part (for booked annual capacities) and the variable part for the amount of re-gasified LNG as well as the reloading tariffs.

The preliminary revenue of the LNG terminal for the first two months of 2018 comprised €12.0 million – 8.4% lower than the revenue accrued in the same period of 2017 (€13.1 million).

In the company's announcement regarding preliminary transhipment and revenue results for January 2018 the preliminary revenue of the LNG terminal was indicated to be €5.3 million. Although gas consumption capacities for 2017 year were recalculated, subsequently the LNG funds administrator recalculated and adjusted the re-gasification tariff fixed part for January 2018, deciding on a total of €6.7 million. This figure is €1.4 million higher than the amount indicated in the announcement regarding the revenue for January 2018 released by the company on 7 February 2018.

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