Klaipėda LNG receives the first LNG cargo from Egypt

Lithuania’s Klaipėda LNG terminal expects to receive approx. 138,000 cubic metres of LNG for the first time from Egypt.

LNG carrier LNG Fukurokuju, built in 2016 and currently sailing under the flag of the Bahamas, is to deliver the cargo from Idku natural gas liquefaction plant in Egypt.

The Lithuania LNG terminal, operated by KN (Klaipėdos Nafta), has resumed operations on 1 May 2021 and is expecting to receive cargo from Egypt on 7 May.

Mindaugas Navikas, chief sales officer at KN, said: “As the prices of LNG are still high in Asia, a large part of cargo from Europe is diverted exactly there by taking advantage of the spot market opportunities, and a certain new-found niche is filled by Egypt, which has been less visible on the map of European LNG suppliers so far. What is more, Egypt announced in January that it would significantly increase exports to Europe to meet the growing demand for LNG here. Taking into account both the requirements of Klaipėda LNG terminal equipment and the requirements of the Lithuanian natural gas market, the natural gas liquefied in Egypt are suitable for our natural gas system in terms of its calorific and energy value.”

According to Navikas, this natural gas year ( 1 October 2020 to 30 September 2021) imported most cargo from the USA (about 82 per cent). This occurred after the shutdown of Equinor plant in Norway, which plans to resume operations next spring. In the natural gas year 2020 the majority of the LNG was imported from Norway (about 70 per cent ), as well as in 2019 (86 per cent from Norway).

Klaipedos Nafta recently launched an annual capacity booking procedure for the Klaipėda LNG terminal.

By the start of the new gas year, 13 more LNG carriers are expected at the LNG terminal, with the LNG Fukurokuju included.