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KN announces LNG revenue for March 2020

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LNG Industry,

AB Klaipedos Nafta (KN) has released its preliminary LNG revenue results for the March 2020.

The preliminary sales revenue of KN’s LNG terminals for March 2020 comprised €3.7 million (during the same month of 2019 – €5.6 million). LNG terminal revenue consists of the regasification tariff fixed part (for booked annual capacities), variable part for amount of regasified LNG, reloading revenue from regulated activities and other consultations. The level of Klaipeda LNG terminal revenue (for booked annual capacities) does not depend on regasification volume. Revenue is confirmed by the National Energy Regulatory Council (NERC) based on the approved methodology of State regulated prices in the natural gas sector and is calculated for the whole upcoming year.

The preliminary sales revenue of KN’s LNG terminals for the first three months of 2020 has decreased by 32.6%, due to the reduction in the security supplement of the Klaipeda LNG terminal by 42% from 1 January of 2020.

The total preliminary sales revenue of the company for the January – March 2020 period amounted to €19.7 million. This figure is 25.1% lower than the same period of 2019 (€26.3 million).

Comment by the company management:

“Levels of LNG regasification at Klaipeda LNG terminal remain high. Following from that, the main factor, which influenced revenue of Klaipeda LNG terminal in January – March of 2020, was KN decisions, adopted in 2019, to optimise Klaipeda LNG terminal costs and reduce the cost of LNG terminal infrastructure for consumers, starting from 2020 annually.”

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