• 2023 November 24 17:13

    Full occupancy of the Klaipėda LNG terminal is ensured until 2033

    “Klaipėdos Nafta” (KN), the operator of the Klaipėda LNG terminal, carried out a capacity allocation procedure that attracted the interest of the market, which showed a high demand for LNG terminal services – potential customers expressed their intention to purchase more than twice as much terminal capacity as offered by KN.​ After the allocation of capacities, commercial customers will use another 9 TWh of terminal capacity each year in 2025–2032, which are equally distributed among companies Achema AB, Eesti Gaas AS (Elenger) and Equinor ASA, according to the company's release.

    The total annual distributed capacity of the LNG terminal amounts to about 33 TWh. Of these, 24 TWh were booked earlier.

    “Before announcing the procedure, we recorded a great market interest in the terminal’s services, and now we are clearly convinced of it – we offered a total of 3 packages of 3 TWh each, at that time the market expressed the need to reserve even 21 TWh of Klaipėda LNG terminal capacity. The results show the high interest of the market participants in the natural gas market of our region, its liquidity and the proper development of the infrastructure network”, Mindaugas Navikas, KN Chief Commercial Officer, comments on the results.

    According to him, KN strives for the terminal to operate at full capacity, as this reduces maintenance costs – each company using it pays a cost-based regasification service fee and fully covers the terminal’s annual infrastructure costs when the terminal’s capacity is fully utilized. Moreover, when allocating long-term capacities, KN ensures that market participants will use not only the terminal, but also the gas transmission infrastructure in Lithuania.

    During the capacity allocation procedure, KN also offered to reserve the terminal’s capacity for an even further horizon – for the period 2033-2044. This offer received less market interest - one four (4) TWh package was purchased out of 7 offered.

    After assessing the low interest in long-term capacity after 2033 and the potential growth of LNG supply in the region and other risks, KN decided to postpone the terminal capacity development project for the future and will offer LNG terminal capacity to the market at a later stage.

    Klaipėda LNG terminal is the main source of natural gas entering Lithuania. A portion of the natural gas imported through it is allocated to meet the needs of Lithuania, including domestic consumers and companies. Another portion is diverted to other European countries, or it is stored in the Inčukalnis gas storage facility in Latvia.

    After long-term capacity distribution is ensured, the share of LNG terminal operating costs is zero in the security supplement paid by natural gas consumers in Lithuania. As each company using the LNG terminal pays a regasification service fee, the LNG terminal collects about 50% of its income from foreign customers this year. After evaluating the results of the long-term capacity allocation of the LNG terminal, it is planned that the same trend should remain for the next 8 years, when more than 50% of the income is collected from foreign customers.

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