KN releases July LNG results

In July 2019 the company’s LNG terminals regasified and reloaded 2.25 million MWh of natural gas. During the first seven months of 2019, the company regasified and reloaded a total of 8.67 million MWh of natural gas. Compared to the first seven months of 2018, during the same period in 2019 handling increased by 61.9%, (5.35 million MWh).

The preliminary sales revenue of the company’s LNG terminals for July 2019 comprised €5.9 million (during the same month of 2018 – €5.3 million).

LNG terminal’s revenue consists of the regasification tariff fixed part (for booked annual capacities) and variable part for amount of regasified LNG, reloading revenues and additional income related to impact of currency exchange for lease liabilities. 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 seven months of 2019 comprised €41.5 million and are higher by 9.8% compared to the same period of 2018 (€37.8 million).

Total preliminary sales revenue of the company in January – July of 2019 amounted to €59.9 million (a decline of 1.0% compared to the same period of 2018 – €60.5 million).

KN management comment

“Klaipeda LNG terminal continues maintaining high activity volumes and the demand for Klaipeda LNG terminal capacity was further increased by the favourable situation in international markets.”

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/08082019/kn-releases-july-lng-results/