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KN strengthening ties with US LNG giants

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LNG Industry,

AB Klaipedos nafta (KN) is looking to enhance its international LNG activities. Taking steps towards this, CEO Mindaugas Jusius recently visited the US where he had meetings with major companies in the LNG sector. These discussions were focused on future partnership and development prospects.

Jusius met with representatives from LNG supplier Freeport LNG; developers of various LNG projects Cheniere and NextDecade; and the LNG operator Commonwealth LNG. Meetings with LNG trading companies Total and BP also took place.

“We have a great deal of unused potential to develop our cooperation with the USA and its energy companies. Our experience and competence are evaluated at the international level. We believe that the partnership and established contacts with US companies in the LNG sector will enhance our positions while developing the LNG import projects of terminals,” said Jusius.

He also emphasised that the US is planning to enhance the supply of LNG to Europe and also to offer new opportunities for KN’s LNG terminal in Lithuania. “Our aim is to increase the efficiency of the use of the LNG terminal in Klaipeda. The establishment of cooperation and the use of our infrastructure for the LNG import from the USA could help us enhance the added value for Lithuania and the whole Baltic Sea Region. This would undoubtedly contribute to the reduction of the terminal costs for residents and business in Lithuania.”

Jusius also noted that the possibility of importing LNG will become more significant after the projects of gas interconnections are accomplished. It is expected that the gas interconnection project between Estonia and Finland will be accomplished in 2020, and the gas interconnection project between Poland and Lithuania will be accomplished in 2021.

In April, KN and Freeport LNG signed a mutual memorandum on further cooperation in design and development of the terrestrial infrastructure for floating LNG terminals.

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US LNG news LNG export news LNG import news