• 2018 October 19 15:20

    Seimas members visiting Klaipėda discussed benefits provided by LNG terminal

    On Wednesday, a group of members of the Seimas from the Seimas Committee on Economy, Committee on Environment and the Commission on Energy visited the liquefied natural gas (LNG) terminal “Independence” in Klaipėda, KN says in a press release. During the meeting, the politicians and the Minister of Energy Žygimantas Vaičiūnas as well as the CEO of KN Mindaugas Jusius discussed the issue of assurance of long-term LNG supply import and discussed the implementation of the economically most advantageous solution.
     
    According to KN calculations, since the launch of the operation of the LNG terminal in Klaipėda in 2014, the amount of funds saved by Lithuanian residents due to decreasing prices on gas reached EUR 103 million. This means that over 3.5 years every resident saved EUR 37, and a family of four – EUR 148.
     
    The calculations of KN analysts are based on the prices for natural gas paid by residents valid in 2014 before the launch of “Independence”. The calculations were performed based on the precondition that over those 3.5 years residents consumed the amount of gas, which is planned to be consumed in 2018.
     
    The price of natural gas for residents, who use gas for cooking, decreased by 18 euro cents by this year (in the first half of 2014 – EUR 0.77/m3, in 2018 – EUR 0.59 / m3). 
     
    The prices of gas for those who use gas for cooking and heating decreased by 15 euro cents (in the first half year of 2014 – 0.54 EUR/m3, in 2018 – EUR 0.39/m3). Therefore, the current price Lithuanian residents pay for gas is one of the lowest in Europe.
     
    Mindaugas Jusius, KN CEO, notes that four years ago the gas price for Lithuanian residents was a quarter higher, since before the LNG terminal was opened in December 2014, Lithuania could purchase gas only from one supplier – Russian concern “Gazprom”, and pay the highest European price for its gas. For example, the average import price Lithuania paid in the first half of the 2014 was EUR 29.84 / MWh, when the average price in the NBP exchange of the Great Britain amounted to EUR 24.07/MWh.
     
    Now, when Lithuania has access to any seller of gas in the world, it pays considerably lower prices for gas than before the launch of the LNG terminal.
     
    “The critics of the terminal usually claim that prices on gas in Lithuania have reduced due to a decrease in global prices on gas. This is not true. If the decrease in the price was determined by the global tendency, the price would decrease in a similar manner across the world. But it is not the case. The gas price in the NBP exchange, if compared to the price existing four years ago, has decreased by 15%, and in Lithuania it has decreased – 31%,” Mindaugas Jusius explained. 

    The prices of the gas imported to Lithuania has decreased from EUR 29.84 / MWh (the average price in the first half of 2014) to EUR 20.60 / MWh (first half of 2018), and in NBP exchange – from EUR 24.07 / MWh (first half of 2014) to EUR 20.49 / MWH (first half of 2018).




2018 November 17

18:29 Sanmar delivers Robert Allan-designed new tractor tug Svitzer Meridian
18:02 MSC launches train between Giengen and Trieste
17:51 BGC Partners acquires Poten & Partners
16:41 ABB wins significant asset management solution order in China
16:11 New Secretary-General appointed to the Paris MoU on PSC

2018 November 16

18:07 Ocean Network Express announces delivery of 14,000 - TEU containership “ONE COLUMBA”
18:02 Sovcomflot reported its results for Q3 and 9M ending 30 September 2018
18:01 Throughput of port Vyborg in 10M’18 up 23% Y-o-Y to 1.53 million tonnes
17:42 Federal Antimonopoly Service of Russia approves amendments to railway transport tariffs
17:30 Keppel announces settlement agreement for termination of an integration project
17:17 Throughput of port Kaliningrad in 10M’18 grew by 5% Y-o-Y to 11.83 million tonnes
17:07 Van Oord and Ace Aquatec making FaunaGuard available for rest of the world
17:06 PaxOcean delivers largest FSRU to be built in China
16:55 Throughput of port Primorsk in 10M’18 fell by 10% Y-o-Y to 44.42 million tonnes
16:55 NYK develops advance water-in-oil alarm to prevent engine trouble
16:33 Throughput of port Vysotsk in 10M’18 climbed by 6% Y-o-Y to 15.34 million tonnes
16:28 Maersk Line receives Service Innovation Award for its Remote Container Management product
16:10 Bureau Veritas Chongqing Liansheng wins Global Project Excellence Award of IPMA 2018
15:48 Port of Ust-Luga handled 81.50 million tonnes in 10M’18, down 4% Y-o-Y
15:29 Port of St. Petersburg handled 49.14 million tonnes in 10M’18, up 12% Y-o-Y
15:10 ZIM announces Q3 2018 results
14:45 Jan De Nul supports the 6th Forum of Dredging Companies as its Sponsor
14:24 Decision on construction of 4th and 5th nuclear-powered icebreakers expected before year end
14:10 Diana Shipping announces time charter contract for m/v Thetis with Hudson
13:32 Entry fee for vessels to be changed at the Port of Ventspils in 2019
13:10 Global Ship Lease completes strategic combination with Poseidon Containers
12:55 Ship inspection to keep high standards
12:31 GoodBulk announces delivery of Supramax vessel to its new owners
12:04 CMA CGM announces FAK rates from ISC to North Europe and the Mediterranean
11:30 GTT receives an order from HHI to design the tanks of two new LNG carriers
11:25 Multipurpose Reloading Complex (Ust-Luga) boosts allocations for its development programme
11:04 ForSea completes conversion of the world’s largest battery ferries, powered by ABB
10:44 Wärtsilä, LUT University and Nebraska Public Power District to develop business case for alternative fuels
10:41 Nor-Shipping looks to achieve industry first with ISO sustainable event standard
10:20 Brent Crude futures price up 0.84% to $67.17, Light Sweet Crude – up 0.74% to $56.88
10:02 Portmaster improves efficiency in the Port of Scheveningen
09:57 High level experts to present at Maritime Reconnaissance and Surveillance Technology conference
09:35 Container throughput of port Hong Kong (China) down 5.4% to 16.3 million TEUs in Jan-Oct’18
09:16 Baltic Dry Index is up to 1,020 points

2018 November 15

18:03 Costa Smeralda to call on Cruiseport Rotterdam
17:54 Polish LNG Conference 2018 concludes in Warsaw
17:25 Port of Singapore throughput in 10M’18 grew by 0.7% Y-o-Y to 523.73 million tonnes
17:03 Maersk Line announces rates from Mediterranean to West and Central Asia
16:52 Expert says downward trend in bunker prices may continue next week
16:30 Nevsky Shipyard launched dry cargo vessel of Project RSD59 «Pola Anfisa»
16:19 "K" Line takes delivery of coal carrier “SHONAI MARU” for JERA Trading
16:04 ICTSI names new APAC head
15:22 Meyer Turku starts construction of Carnival XL1
15:03 Port of Antwerp signs an agreement with Enabel
14:34 Throughput of Ukraine’s seaports in 10M’18 declined by 0.7% Y-o-Y to 108 million tonnes
14:03 Pavilion Energy and Novatek agree to strengthen their LNG partnership
14:00 Damen hands over four FCS 2610 vessels to Allianz during ADIPEC
13:36 ABS awards industry’s first offshore facility cyber security-ready notation to Sembcorp Marine
13:23 NOVATEK’s Board of Directors to be elected on 18 January 2019
13:00 Zvezda shipyard started serial manufacturing of Aframax-class tankers
12:39 Residents of Riga and the Port outline a common vision for the future
12:04 Singapore hosts 10th APEC Port Services Network (APSN) Port Connectivity Forum
11:48 Bunker prices are still high in the Far East ports of Russia (graph)
11:22 Sea Port of Saint-Petersburg’s allocations for its development programme totaled RUB 413.5 million in 9M’2018
11:03 NYK promotes decarbonization through exploratory design of NYK Super Eco Ship 2050