KN releases results for September 2019

In September 2019, the company’s LNG terminals regasified and reloaded 2.39 million MWh of natural gas. During the first nine months of 2019 the company has in total regasified and reloaded 12.59 million MWh of natural gas. Compared to the first nine months of 2018 (7.10 million MWh), this result represents an increase in handling by 77.3% (5.49 million MWh).

The preliminary sales revenue of the company’s LNG terminals for September 2019 comprised €6.0 million (during the same month of 2018 – €5.4 million). The LNG terminal’s revenue consists of the regasification tariff fixed part (for booked annual capacities) and variable part for amount of regasified LNG and reloading revenues. The LNG terminal revenue level (for booked annual capacities) does not depend on regasification volume. Revenue is confirmed by the National Energy Regulatory Council (NERC (NCECP before 1 July)) based on the approved methodology of State regulated prices in the natural gas sector and is calculated for the whole upcoming year. The preliminary revenue of the LNG terminals for the nine months of 2019 comprise €53.3 million – an increase of 9.9% compared to the same period of 2018 (€48.5 million).

Total preliminary sales revenue of the company in January – September of 2019 have amounted to €77.3 million, a 2.1% increase compared to the same period of 2018 (€75.7 million).

Comment by KN management:

“The LNG terminal in Klaipeda continues to maintain high operational efficiency. In September the efficiency of the terminal operations reached about 65% of its maximum capacity. In September alone, the LNG regasification of the gas at the terminal reached 2.4 TWh and, according to this indicator, it is its second best result of the year. We are glad that the terminal users are successfully taking advantage of the favourable situation in the international LNG market and are flexibly booking capacities of the terminal for the current gas year.”

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/07102019/kn-releases-results-for-september-2019/