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KN releases latest LNG activity and revenue results

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LNG Industry,

AB Klaipedos nafta (KN) has released its preliminary LNG activity and revenue results for the February 2019.

In February 2019 KN’s LNG terminals regasified and reloaded 173 000 MWh of natural gas, 47.3% less than the same period in 2018 (328 000 MWh). In the second part of February, LNG regasification was temporary stopped for terminal maintenance. Regasification is due to restart at the end of March. During the first two months of 2019 the company regasified and reloaded a total of 644 000 MWh of natural gas (during the same period of 2018 – 591 000 MWh).

The preliminary sales revenue of the company’s LNG terminal for February 2019 comprised €5.6 million (during the same period of 2018 – €5.2 million). Revenue consists of one twelfth of the regasification tariff for booked annual capacities approved by the National Control Commission for Energy Control and Prices for 2019 and the regasification tariff for amount of regasified LNG. The preliminary revenue of the LNG terminal for the first two months of 2019 comprised €12.6 million, an increase of 5.9% compared to the same period of 2018 (€11.9 million).

Gas consumption capacities for 2018 were recently recalculated, subsequently the LNG funds administrator has recalculated and adjusted the regasification tariff fixed part for January 2019 in total €6.5 million. Therefore, January sales revenue of LNG terminals was in fact €7.0 million. This revised figure is €1.4 million higher compared to the amount indicated in the announcement regarding the preliminary activity and revenue results released by KN for the January 2019 period, where revenue of LNG terminals was indicated as €5.6 million.

Total preliminary sales revenue of KN in January – February 2019 amounted to €18.2 million, 7.6% lower compared to the same period of 2018 (€19.7 million).

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