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KN releases results for December and year 2019

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LNG Industry,

AB Klaipedos Nafta (KN) has released its preliminary activity and revenue results for December and year 2019.

In December 2019, KN’s LNG terminals regasified and reloaded 2.19 million MWh of natural gas. During the 12 months of 2019 the company in total regasified and reloaded 20.23 million MWh of natural gas. Compared to the same period of 2018 (9.21 million MWh), in 2019 handling increased by 119.7% (11.02 million MWh).

The preliminary sales revenue of the company’s LNG terminals for December 2019 comprised €6.2 million (during the same month of 2018 – €5.3 million). LNG terminal’s revenue consists of the regasification tariff fixed part (for booked annual capacities), variable part for amount of regasified LNG, reloading revenues and other consultations. The LNG terminal revenue level (for booked annual capacities) does not depend on regasification volume. Revenue is confirmed by the National Energy Regulatory Council (NERC (NCECP before 1 July)) based on the approved methodology of state regulated prices in the natural gas sector and is calculated for the whole upcoming year. The preliminary revenue of the LNG terminals for 2019 comprised €72.0 million, an increase of 11.6% compared to the same period of 2018 (€64.5 million). Higher revenue influences the reduction of security supplement for the next periods.

The total preliminary sales revenue of the company for January – December 2019 amounted to €103.9 million, an increase of 3.9% compared to the same period of 2018 (€100.0 million).

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