Klaipeda LNG Terminal Will Be Used by the Energy Giant

Source: www.gulfoilandgas.com 6/7/2021, Location: Not categorized

KN (AB Klaipedos Nafta), the operator of oil and liquefied natural gas (LNG) terminals, has completed the annual procedure for allocating LNG terminal capacity for the new gas year. 2021 October 1 Three customers, including the Norwegian energy concern Equinor ASA, will use the pre-ordered degassing capacity of the 8.9 TWh LNG terminal in the coming gas year.

Compared to last year, 8.4 TWh was distributed during the annual capacity allocation procedure, and as much as 12.3 TWh of natural gas was ordered during the whole year.

“Intensive activities of Klaipeda LNG terminal will continue this year as well - during this capacity allocation procedure, the largest number of capacities in the entire history of the LNG terminal was reserved. Not only existing customers, but also the Norwegian energy concern Equinor, which plans to strengthen its operations in the Baltic Sea region, have decided in advance to use the services of the LNG terminal and the benefits it provides. We are glad that KN's goal is to increase the competitiveness of the LNG terminal in the region and strengthen cooperation with existing and potential customers, offer flexible technological and planning solutions and bear fruit and attract new strategic partners, ”said Mindaugas Navikas, KN ??Commercial Director.

M. Navikas draws attention to the trend that has been established for several years now - LNG terminal customers actively use the opportunity to react flexibly to current market changes and adjust congestion and gasification needs accordingly. Due to the constantly changing prices of natural gas in the global and European markets, the terminal's customers more often choose to purchase LNG cargo from the spot market and order the necessary capacity after the gas year. It is estimated that in the gas year 2021 alone, the volume of degassing of so-called “spot” cargoes will be twice as high compared to the pre-reserved capacities.

Terminal users ordered capacity not only to meet the demand for Lithuanian gas, but also to supply it to Latvia, Estonia and Finland. Customers are also planning their activities taking into account the additional market potential that will open up - in 2022, the GIPL gas pipeline connection between Poland and Lithuania will start operating, therefore Klaipeda LNG terminal users will be able to supply gas to the southern part of the region.

During the current 2021 gas year, from 2020. October 1 By 1 June this year, 49 LNG carriers have been accepted at the LNG terminal (compared to 50 in the same period of the previous year), and another 11 LNG carriers are expected by the end of the gas year. During this period, 2 million. cub. meters of LNG, mainly from the USA.

The Company allocates capacity in accordance with the Rules for the Use of the LNG Terminal agreed, approved and made public by the State Energy Regulatory Council and the General Director of the Company. During the LNG terminal capacity allocation, LNG degassing capacity and LNG reloading capacity were allocated in advance.

The total amount of allocated LNG terminal capacity is 3.75 billion. nm3 or 44,625,000 MWh per year, applying a maximum calorific value of 11.90 kWh / nm3 for natural gas.

The 2022 gas year will begin in 2021. October 1 and will last until September 30 next year.

The Company regularly publishes and updates on its website information on the available capacity of the LNG terminal, which can also be purchased during the gas year.

Gulf Oil and Gas
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