• 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).




2020 May 30

14:32 EC approves €600 million Finnish guarantee scheme to support maritime companies affected by the coronavirus outbreak
13:12 Bollinger Quick Repair takes delivery of new dry-dock “Mr. Eddie”
11:47 Sanmar and Svitzer deliver power and performance to Port of Sohar
10:58 Coast Guard Cutter James seizes 3,350 lbs of marijuana off Central American

2020 May 29

18:36 Port of Marseille Fos to constuct a new international ferry terminal
18:20 Sea Port of Saint-Petersburg boosts its infrastructure investments by 40%
18:06 PIL starts a new India Service - China India Express (CIX)
17:51 Petrotrans takes delivery of lead ship of Project RSD59
17:36 Rolls-Royce seals major contract covering complete MTU propulsion systems for Royal Navy Type 31 frigates
17:14 United Shipbuilding Corporation developed its own cargo ship design
17:06 ECSA welcomes TRAN opinion on future EU-UK partnership and urges rapid advancement of the talks in view of the looming deadline
16:15 Port Authorities pledging support to keep ports open during COVID-19 more than doubles within a month
15:52 Market of seaborne cargo transportation for wind farms is stable and expected to grow
15:46 Viking Line starts a passenger service from June 1
15:05 KiwiRail orders two new ferries
14:49 Admiral Makarov University introduced new GMDSS simulator class
14:05 Bollinger Shipyards delivers the USCGC MYRTLE HAZARD to the U.S. Coast Guard
13:41 Smart Delta Resources launches project to substantially reduce CO2 emissions in Scheldt-Delta region
13:09 Record engine powers world’s largest containership
12:48 Large amphibious ships of RF Navy's Black Sea Fleet conducted comprehensive exercise in sea training ground
12:30 Navigation season opens on Upper Lena and Lower Lena rivers
12:09 Global shipping body addresses the health concerns of seafarers during the COVID-19 pandemic
11:26 Vimpel Shipyard launches coast guard boat Lamantin of river-going design
11:03 LNG STS bunkering – ‚First-off‘ operations in France, Germany and Norway
10:28 Oil prices fall by over $1
10:09 DP World joins with TradeLens to digitize global supply chains
09:53 Bunker prices are stable at the port of Saint-Petersburg, Russia
09:35 Baltic Dry Index on May 28
09:20 Konecranes to deliver third mobile harbor crane to South Australia
09:17 MABUX: Bunker market this morning, May 29
08:46 CMA CGM announces FAK rates from Asia to North Africa, Mediterranean and North Europe

2020 May 28

18:37 CMA CGM ends ESS from North Europe, Scandinavia & Poland to West Med, East Med, Adriatic & North Africa
18:07 PortXchange results in shorter idle times on departure at APM Terminals Rotterdam
17:24 Independent Container Line starts new service from Cork to USA
17:20 Antwerp@C investigates potential for halving CO2 emissions in Port of Antwerp by 2030
16:49 Nevsky Shipyard launches lead ferry of Project PV22, Admiral Gennady Nevelskoy
16:17 Finland's new Water Traffic Act enters into force in June
16:05 Lubrizol joins the Getting to Zero Coalition
15:56 Wärtsilä high-efficiency propulsion solutions selected for special high-speed ferry
15:46 ABP keeps Britain trading in the safest way possible
15:02 Bunker prices show no considerable changes at the Far East ports of Russia (graph)
14:38 Bunkering tanker intended for Baikal lake delivered to the customer
14:00 WinGD wins type approval for biggest and most powerful ever dual-fuel engines
13:00 Gasum partners up with the sustainable transport solution provider company Samskip
12:30 More Konecranes BOXHUNTER RTGs to Vietnam
12:00 Konecranes and Fluidmesh join forces to deliver world-first 100% wireless Automated Rubber Tired Gantry crane system
11:30 EPS and Equinor set sights on a trio of newbuild LPG dual-fuel vessels
11:09 Boskalis awarded two dredging contracts in Finland
10:51 Oil prices continue going down
10:30 DNV GL releases first ever traceability standard for reclaimed plastic
10:09 Port of Stockholm announces arrival of the first container ship at Norvik Port
09:44 CMA CGM announces Overweight Surcharge (OWS) from Asia to North Europe
09:37 Baltic Dry Index on May 27
09:19 Rosmorport released young trout into Ladoga lake
08:54 MABUX: Bunker market this morning, May 28

2020 May 27

18:36 Nexans wins major subsea HVDC cable contract from Greece's Ariadne Interconnection S.P.S.A
18:06 The lock gate of the Pierre Vandammelock at the port of Port of Zeebrugge gets decoupled and transported to the inner harbour for renovation works
17:36 Sales of “Honesty” - device to measure the level of liquid in tanks - exceeds 1,000 units
17:06 ZIM posts Q1 2020 results
16:58 NOVATEK-Murmansk obtains resident status at Advanced Special Economic Zone