In August, the operator of oil and liquefied natural gas (LNG) terminals  KN (AB Klaipėdos Nafta) reloaded 627,000 tonnes of oil products, a growth nearly 44% compared with the same month last year.

The oil product reload figures of AB Klaipėdos Nafta are getting closer to the record results of last year. This August the amount of oil products reloaded in the Klaipėda and Subačius oil terminals made up 627,000 tonnes, which is 43.8% more than in August last year. This growth could be mainly attributed to a more stable geopolitical situation and growing amount of oil products reloaded onto tank trucks.

“Business logic, which relies on figures and the search of optimal solutions, is the key factor in business relations that are influenced by geopolitical events. Our customers first of all estimate logistic costs as well as the expediency and quality of provided services. So, I believe that the port of Klaipėda and KN terminals will continue to maintain professional and quality standards which are essential in a competitive world,” - said CEO of AB Klaipėdos Nafta Mindaugas Jusius.

Since the start of the year the amount of oil products reloaded into the KN terminal’s storage tanks made up 4.56 million tonnes of oil products, a drop of 15.8% compared with 5.4 million tonnes reloaded in the same period last year. According to KN’s CEO, the volume of reloaded oil products fluctuated in the third and second quarters last year before starting to pick up in the spring this year, driven by the said geopolitical events and diversified reloading sources.

The growing oil product reload in August lead to a 76% rise in income: according to the preliminary data, the Subačius and Klaipėda oil terminals generated EUR 3.7 million in income, compared with EUR 2.1 million last year.  Since the start of the year, the sales of KN’s oil terminals amounted to EUR 24.5 million, a decline of 14.4% year-on-year.

The usage of the LNG terminal reached the highest level in August when nearly 2.2 million MWh of natural gas was degassed and supplied to the natural gas transmission system. Compared with August last year, the amount of degassed natural gas was 0.84 million MWh. Since the start of the year, the LNG terminal degassed and reloaded 8.7 million  MWh of gas, a drop from the last year’s figure of 11 million MWh. This decline could be explained by the fact that customers reserved fewer capacities.

According to the preliminary data, in August the LNG terminal earned EUR 5.6 million in income, compared with EUR 5.5 million in August last year. In the eight months this year, the LNG terminal generated an income of EUR 46.1 million, a growth of 2.4% compared with the same period last year. The LNG terminal’s income is calculated by the LNG funds administrator and is made up of the part of the safety component in the price of natural gas allocated to offset the operational costs of the LNG terminal, as well as LNG gasification and reloading income.

In the eight months this year, the income of KN made up EUR 70.6, a decline of 3.3% year-on-year.

Source: KN information