Klaipedos Nafta LNG terminal revenue slides in February

Klaipedos Nafta LNG terminal revenue slides in February
Image courtesy of Klaipedos Nafta

Klaipedos Nafta, the operator of the first Lithuanian LNG terminal reported a 12,9 percent drop in sales revenue from the facility during January 2017.

Revenue from the facility in January reached €5.4 million (Approx: US$5.7 million) compared to €6.2 million reported in the corresponding quarter in 2016.

However, for the January-February period, the revenue from the LNG terminal rose 6.5 percent from €12.3 million in 2016 to €13.1 million in 2017.

Höegh LNG’s FSRU Independence located in the port of Klaipeda regasified 105,000 MWh of LNG and supplied it to the natural gas transmission system. This is a drop of 93.8 percent compared to the 1.7 million MWh regasified in February 2016.

The volumes regasified during the first two months of 2017 also dropped compared to the corresponding period in 2016. The LNG terminal regasified 890,000 MWh in January and February 2017, 67.9 percent down from 2.7 million MWh in January and February 2016.

The largest of the three Baltic nations, Lithuania started importing LNG in December 2014 in order to reduce its dependence on Russian pipeline gas supplies.

Deliveries to Lithuania’s LNG terminal are being split between Litgas, a part of state-controlled energy group Lietuvos Energija, Lietuvos Duju Tiekimas, and Lithuanian fertilizer producer Achema.

1 EUR = 1.05546 USD