Klaipėdos Nafta starts allocation of LNG terminal capacities

KN (AB Klaipėdos nafta), the operator of oil and liquefied natural gas (LNG) terminals, says it has started a yearly procedure, i.e. allocation of LNG terminal capacities for the new gas year which begins on 1 October 2017. Capacities are allocated in advance, before the end of the current gas year, with regard to market needs.

Like in the previous years, the company has announced the procedure of booking LNG terminal capacities in advance so that the users of the terminal could already plan the processes of LNG ordering and transportation. KN has been following this practice since the very beginning of terminal operation, because the advance procedure is not only convenient to the users, but also allows the company to efficiently plan terminal operation as well as to ensure high-quality services.

In both 2015 and 2016, the participants of the natural gas market booked part of capacities in advance.

“Since the very beginning of operation of the LNG terminal we have observed the need of the users of the terminal to book the capacities before the end of the gas year. The terminal has been operating so flexibly that we can match the needs of both advance planners and those users who acquire LNG in the course of a year. In this way they can most efficiently form gas supply portfolios, rapidly react to market changes and guarantee the lowest prices to consumers,” says Mindaugas Jusius, CEO of AB Klaipėdos nafta.

The company has been constantly announcing on its website and updating information on available LNG terminal capacities that can be acquired during the current gas year which lasts from 1 October 2016 to 1 October 2017.