News

2018 December 18 15:42

KN enhances its relations with American LNG giants

KN (AB “Klaipėdos nafta”) – the operator of oil products and liquefied natural gas (LNG), terminals is further enhancing its attention to the international LNG activities. This week, KN CEO Mindaugas Jusius was visiting the United States of America, where he had meetings with major companies in the LNG sector aimed at discussing future partnership and development prospects, KN says in a press release.
 
KN CEO Mindaugas Jusius met the representatives of the American LNG supplier “Freeport LNG”, developers of various LNG projects “Cheniere” and “NextDecade” and the LNG operator “Commonwealth LNG”. Also, meetings with LNG trading companies “Total” and BP took place.
 
“We have a great deal of unused potential to develop our cooperation with the USA and its energy companies. Our experience and competence are evaluated at the international level. We believe that the partnership and established contacts with US companies in the LNG sector will enhance our positions while developing the LNG import projects of terminals,” said Mindaugas Jusius, CEO of KN.
 
The head of KN also emphasised that the USA is planning to enhance the supply of LNG to Europe and also to offer new opportunities for the LNG terminal in Lithuania. “Our aim is to increase the efficiency of the use of the LNG terminal in Klaipėda. The establishment of cooperation and the use of our infrastructure for the LNG import from the USA could help us enhance the added value for Lithuania and the whole Baltic Sea Region. This would undoubtedly contribute to the reduction of the terminal costs for residents and business in Lithuania,” the CEO of KN noted.
 
Mindaugas Jusius also noted that the possibility to import LNG will become more significant after the projects of gas interconnections are accomplished. It is expected that the project of gas interconnection between Estonia and Finland will be accomplished in 2020, and the project of gas interconnection between Poland and Lithuania will be accomplished in 2021.
 
In April, KN and “Freeport LNG”, a US supplier of LNG and the operator of the future LNG terminal, signed a mutual memorandum on further cooperation in design and development of the terrestrial infrastructure for floating LNG terminals.