Klaipeda LNG terminal has updated rules
Lithuanian National Commission for Energy Control and Prices (NCC) have approved the amended rules of the use of Klaipeda LNG terminal, Klaipedos Nafta says in a press release. The rules have been adjusted following the evaluation of the first year of operations and the requests of the existing and potential users of the terminal.
The rules were submitted to NCC by Klaipedos Nafta in February, and for public consultation – in mid-March.
“The updates of the rules were initiated after the first year of liquefied natural gas (LNG) terminal operations in order to further increase the efficiency of LNG reloading and regasification processes, to facilitate the provision of small-scale LNG services, to meet the needs of the terminal users and to increase the competitiveness of the terminal. We expect the changes will accelerate the development of LNG bunkering market in the Baltic Sea and will attract new suppliers to the Baltic States’ natural gas market ", - says Mantas Bartuska, CEO of SC Klaipedos Nafta.
Klaipeda LNG terminal is the only operational FSRU-based multi-user and open-access LNG import terminal in the world. The innovative “virtual storage” mechanism, introduced with the new terminal regulations, enables the traders to serve smaller emerging demands both in the regional natural gas and LNG break-bulk markets.
The virtual storage mechanism may be of interest for the emerging LNG markets with the low initial demand due to the lack of supply sources, but with a strong growth potential. Klaipedos Nafta provides advisory services for the FSRU-based LNG terminal projects globally.
Essential changes of the LNG terminal rules:
LNG terminal users are enabled to extend a temporary LNG storage terminal period – up to one year after unloading (until now it was possible to store for 2 months); actual LNG terminal technological losses will be allocated to terminal users in proportion to the amount of gas stored in the terminal, in other words – depending on the user's stored quantities of LNG, the user will be assigned to the relevant part of the technological losses; annual scheduling procedure has been detailed with the possibility to split it into time intervals by the terminal’s operator in cases where the terminal users do not agree among themselves on annual delivery schedule; designated supplier, when possible, in agreement with the terminal operator may not regasify the obligatory quantity, if the adequate LNG terminal condition may be temporarily ensured without regasification.
The state owns 72.32 percent of SC Klaipedos Nafta.
