KN reports latest LNG results

In May 2019, KN’s LNG terminals regasified and reloaded 1.77 million MWh of natural gas. During the first five months of 2019 the company regasified and reloaded a total of 3.99 million MWh of natural gas.

The preliminary sales revenue of the company’s LNG terminal for May 2019 comprised €6.2 million (during the same period of 2018 – €5.3 million). 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 preliminary revenue of the LNG terminal for the first five months of 2019 comprised €36.8 million, an increase of 34.8% compared to the same period of 2018 (€27.3 million).

Despite the external factors, total preliminary sales revenue of the company in the January to May 2019 period amounted to €49.7 million – an 11.9% increase compared to the same period of 2018 (€44.4 million).

Management comment

“The LNG terminal in Klaipeda has recently exceeded expectations, as not only existing customers are increasing booked capacities, but the company has also managed to attract a new customer. This indicates that terminal customers have appreciated the possibility provided by the LNG terminal to respond flexibly to the rapidly changing situation in international LNG markets by diversifying their energy resource portfolios.”

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/10062019/kn-reports-latest-lng-results/