Klaipedos Nafta revamps amid changes in energy sector

Lithuanian energy terminal operator Klaipedos Nafta (KN) has officially changed its name to KN Energies to reflect the company’s strategic changes.

Specifically, the operator said the name change reflects the company’s new long-term strategy to follow the path of sustainable energy by switching from fossil fuels to new types of energy. Moreover, the name is aimed at international markets where KN is establishing itself.

The company’s employees, clients and partners will not be affected by the name change, KN noted, adding that the company’s obligations will also remain the same, so there will be no need to alter any agreements due to this change. The address of the company’s registered office, address for correspondence, billing accounts and other details will remain the same.

The company will continue to use its previous trademark KN, although the company logo has been adjusted and the brand’s color palette was updated, KN further revealed.

KN’s subsidiary LLC SGD Logistika will continue its operations as LLC KN Global Terminals from now on.

Darius Šilenskis, CEO of KN Energies, stated: “The global energy sector is going through a transformation, particularly in Europe – this is a long-term change, and we intend to use it for the further growth of the company, which has been operating for 65 years.”

“Our ambition is to become the leaders in the storage and transportation of new sustainable energy types in the Baltics by 2050. We aim to provide our clients with the relevant key and new types of energy for their needs at every stage of the ongoing energy transformation. This is exactly the message reflected in our new company name.”

To note, KN’s current long-term strategy, approved in the summer of 2023, covers liquid energy products, terminals of liquefied natural gas (LNG) and new energy types such as synthetic fuels, hydrogen and its compounds, and other alternative energy carriers, as well as carbon capture and storage.

With this strategy, KN aims to achieve complete climate neutrality for its operations by 2050, with a target of reducing emissions by over 30% by 2030 and approximately 70% by 2040.