Five Customers to Use Klaipeda LNG Terminal in the Last Quarter

Source: 5/25/2022, Location: Not categorized

KN (AB „Klaipedos nafta“), the operator of LNG and oil terminals, has completed the annual LNG terminal capacity allocation for the last quarter of this year. During the period from 1 October to 31 December 2022, five customers will use the booked 9.66 TWh of LNG terminal degassing capacity.

In order to ensure that the services of the terminal are available to as many customers as possible, the LNG terminal capacity was allocated in accordance with the Regulations of Use of the Liquefied Natural Gas Terminal discussed with the market and approved by the regulator. These regulations stipulate that a single terminal user may not book more than half of the allocated terminal capacity. If the need is greater than the capacity to be allocated, the principle of proportionality applies.

‘The total amount of requests for LNG degassing capacity received amounted to 36.9 TWh, i.e. four times the supply. Therefore, according to the new rules, the capacity was allocated proportionally, giving priority to companies that have used the services of the LNG terminal in the last three years’, says Jurgita Šilinskaite-Vensloviene, Head of KN LNG Commerce.

Five companies from Lithuania, Estonia and Poland have been awarded capacity. From 1 October to the end of the year, the LNG terminal in Klaipeda is expected to receive 10 large LNG cargoes. All the planned time windows for reception of cargoes are for large LNG carriers carrying at least 138,000 cubic metres of LNG cargo.

The capacity has been allocated for a relatively short period of time - the last quarter of this year - as the gas year will be aligned with the calendar year next year in accordance with the envisaged amendments to the Regulations of Use of the Liquefied Natural Gas Terminal.

In June, the start of capacity allocation for 2023 is planned to be announced, as well as the possibility to reserve capacity for a longer period of 5 or 10 years. This option will allow LNG terminal customers to plan their LNG supply well in advance, thus systematically securing their needs.

Gulf Oil and Gas
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