Klaipeda LNG Terminal capacity allocated for 2024
Published by Jessica Casey,
Editor
LNG Industry,
The energy terminal operator, AB Klaipedos Nafta (KN), has concluded the annual Klaipeda LNG terminal capacity allocation procedure, with the LNG terminal's 6 TWh regasification capacity for the 2024 terminal gas year allocated to four customers from Lithuania and Estonia.
In 2024, a total of about 34 TWh of natural gas is expected to be regasified, with cargoes to be delivered by 34 conventional LNG carriers. Most of the natural gas (24 TWh) will be delivered to customers from Lithuania, Latvia, and Poland, which booked long-term LNG terminal capacity last year. A further 4 TWh of capacity from the spot market will be allocated over the next year, based on the need to import natural gas to ensure the isolated operation of the electricity system and, in the absence of such a need, to meet natural gas demand on a case by case basis.
“The global natural gas market is still full of uncertainties, therefore it is of utmost importance that in such turbulent times Klaipeda LNG terminal operates smoothly and almost at maximum capacity, and KN fully ensures the provision of regasification services in line with the needs of the regional market. A total of six customers will use the LNG terminal services next year. We are delighted that the capacity allocation model, which was updated in 2022, has contributed to the stability in the use of the LNG terminal and allows the terminal users to plan their cargo deliveries accurately, thus ensuring a reliable natural gas supply at the most competitive price on the market for the customers in Lithuania and the surrounding countries,” said Mindaugas Navikas, Chief Commercial Officer of KN.
From the beginning of the year until 23 July 2023, the LNG terminal has received 20 large scale LNG carriers, and the same number of LNG carriers is planned to be received by the end of the year. During this period, 2.9 million m3 of LNG were delivered, with the majority (48%) coming from Norway. In 2023, natural gas was also imported from the USA, Nigeria and Algeria. It is planned that about 37 TWh of natural gas will be regasified at Klaipeda LNG terminal this year.
By comparison, in 2022, 46 LNG carriers brought in almost 5 million m3 of LNG, with the majority (65%) coming from the US. Last year, the LNG terminal regasified a total of 32.1 TWh of natural gas.
As of 1 May 2022, each LNG terminal user, i. e., companies importing natural gas through Klaipeda LNG terminal, pays the same fixed price for LNG terminal services. Meanwhile, the security supplement paid by natural gas consumers in Lithuania does not currently include the costs of maintaining the LNG terminal.
Read the article online at: https://www.lngindustry.com/regasification/03082023/klaipda-lng-terminal-capacity-allocated-for-2024/
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