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AB Klaipėdos Nafta preliminary activity and revenue results for the December 2018

Friday, 11 January 2019 | 00:00

In December 2018 AB Klaipėdos nafta (hereinafter – the Company or KN) has reloaded 598 thousand tons of petroleum products in Klaipėda and Subačius oil terminals, comparing to the same period of 2017 reloaded less products by 28.4 per cent.

During twelve months of 2018 the Company in total reloaded 6,693 thousand tons of petroleum products into its storage tanks or less by 6.7 per cent compared to the same period of 2017 when 6,693 thousand tons were reloaded. The overall decrease in loading volumes for the twelve months mainly was affected by the lower quantities of light oil products from ORLEN Lietuva refinery.

The preliminary sales revenue of the Company's oil terminals for December 2018 reached EUR 2.8 million. The preliminary sales revenue for January – December 2018 of the Company's oil terminals' comprise EUR 35.5 million (during the same period of 2017 – EUR 38.3 million).

Image: AB “Klaipėdos nafta”

Last year the Company had stressed that port operations have certain specifics.

“Although our decisions are based on business logic, the geopolitical context is also important. It is no secret, that logistics of oil and oil products among neighbouring countries in 2018 was under tension. Nonetheless, we still managed to maintain stable levels of transit cargoes flows. A bit lower levels of reloaded products were influenced by the decision of one of our main clients to shift diesel product to Polish market by rail, due to increased demand of the product in this market”, – says Mindaugas Jusius, KN CEO.

In December 2018 the Company's Liquefied Natural Gas (LNG) terminals has re-gasified and reloaded 544 thousand MWh of natural gas in the same period of 2017 were reloaded 458 thousand MWh. During twelve months of 2018 the Company in total re-gasified and reloaded 9,196 thousand MWh of the natural gas (during the same period of 2017 – 12,645 thousand MWh).

The preliminary sales revenue of the Company's LNG Terminal for December 2018 comprised EUR 5.3 million (December 2017 – EUR 5.5 million or less by 3.6 per cent). Revenue consists of the re-gasification tariff fixed part (for booked annual capacities) and variable part for amount of regasified LNG as well as and reloading tariffs. The preliminary revenue of the LNG terminal for twelve months of 2018 comprise EUR 64.5 million and are lower by 5.4 per cent compared to the same period of 2017 (EUR 68.2 million).

Total preliminary sales revenue of the Company in twelve months of 2018 amount to EUR 100.0 million, or less by 6.1 per cent compared with the same period of 2017 – EUR 106.5 million.

Petroleum products transhipment and LNG re-gasification and reloading:

DecemberJanuary – December
20182017Change, %20182017Change, %
Petroleum products reloaded, thousand tons598835-28.4%6,6937,177-6.7%
LNG re-gasification and reloading, thousand MWh54445818.8%9,19612,645-27.3%

Petroleum products transshipment, LNG re-gasification and reloading volumes in 2018:

JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember
Petroleum products reloaded, thousand tons776664599403637516514487434504561598
LNG re-gasification and reloading, thousand MWh2633285091,1501,4508198386441,101709841544

Preliminary revenue of the Company, EUR million:

DecemberJanuary – December
20182017Change, %20182017Change, %
Oil terminals activity2.84.5-37.8%35.538.3-7.3%
LNG terminals activity5.35.5-3.6%64.568.2-5.4%
Total:8.110.0-19.0%100.0106.5-6.1%

Source: Klaipedos Nafta

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