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AB Klaipėdos Nafta preliminary activity and revenue results for the September 2019

Tuesday, 08 October 2019 | 16:00

In September 2019 AB Klaipėdos nafta has reloaded 426 thousand tons of petroleum products in Klaipėda and Subačius oil terminals. During the first nine months of 2019 the Company in total reloaded 4,376 thousand tons of petroleum products into its storage tanks.

The preliminary sales revenue of the Company’s oil terminals for September 2019 reached EUR 2.5 million. The preliminary sales revenue for January – September 2019 of the Company’s oil terminals comprise EUR 24.0 million.

In September 2019 the Company’s Liquefied Natural Gas (LNG) terminals have re-gasified and reloaded 2,395 thousand MWh of natural gas. During the first nine months of 2019 the Company in total re-gasified and reloaded 12.593 thousand MWh of the natural gas. Compared to the first nine months of 2018 (7,102 thousand MWh), during the same period in 2019 handling increased by 77.3 per cent, or by 5,491 thousand MWh.

The preliminary sales revenue of the Company’s LNG terminals for September 2019 comprised EUR 6.0 (during the same month of 2018 – EUR 5.4 million). LNG terminal’s revenue consists of the re-gasification tariff fixed part (for booked annual capacities) and variable part for amount of re-gasified LNG and reloading revenues. The LNG terminal revenue level (for booked annual capacities) does not depend on re-gasification volume. Revenue is confirmed by the National Energy Regulatory Council (NERC (NCECP before July 1st)) 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 the nine months of 2019 comprise EUR 53.3 million and are higher by 9.9 per cent compared to the same period of 2018 (EUR 48.5 million).

Total preliminary sales revenue of the Company in January – September of 2019 amount to EUR 77.3 million, or higher by 2.1 per cent compared to the same period of 2018 – EUR 75.7 million.

Comment by the Company management:

Thanks to the more flexible operating model of the KN oil terminals, which has been strengthened by the new terminal infrastructure, the sales revenue of the KN oil terminals for the third consecutive month exceed results of the last year. In September 2019 sales revenue were higher by almost one fifth, that is, by 19 percent, if compared to 2018. The long-term agreement on the handling of oil products with BNK (UK) Limited, which belongs to the leading exporter of Belarusian oil products – ZAT „Belaruskaja neftenaja kampanija”, allows to be optimistic about the future. Continued cooperation allows to expect higher transhipment volumes of light and dark oil products at KN oil terminal.

The LNG terminal in Klaipeda continues to maintain high operational efficiency. In September the efficiency of the terminal operations reached about 65 percent of its maximum capacity. In September alone, the LNG regasification of the gas at the Terminal reached 2.4TWh and, according to this indicator, it is its second best result of the year. We are glad that the terminal users are successfully taking advantage of the favourable situation in the international LNG market and are flexibly booking capacities of the terminal for the current gas year.
Source: AB Klaipėdos Nafta

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