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KN releases its January LNG revenue results

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LNG Industry,

AB Klaipedos Nafta (KN) has reported its preliminary LNG revenue results for January 2020.

The preliminary sales revenue of the KN’s LNG terminals for January 2020 comprised €3.7 million (during the same month of 2019 – €7.0 million). The LNG terminal’s revenue consists of the regasification tariff fixed part (for booked annual capacities), variable part for amount of regasified LNG, reloading revenue and other consultations. The level of 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 LNG terminals for the January 2020 decreased by 47.1% due to the reduction of the security supplement by 42%, as of 1 January of 2020.

Total preliminary sales revenue of the company for January 2020 amounted to €5.7 million. This result is 43.6% lower than the same period of 2019 (€10.1 million).

Comment by company management:

In 2019 KN implemented all the necessary steps to optimise the Klaipeda LNG terminal’s costs, thereby reducing the cost of LNG terminal infrastructure for consumers starting from 2020 annually. This decision is already reflected in the revenue of LNG terminal in January, despite the continuous high levels of LNG regasification.

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