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AB Klaipedos Nafta releases preliminary activity and revenue results for December 2018

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Hydrocarbon Engineering,

In December 2018, AB Klaipedos Nafta (KN) reloaded 598 000 t of petroleum products at its Klaipeda and Subacius oil terminals, a 28.4% reduction compared to the same period of 2017.

In total in 2018, the company reloaded 6.693 million t of petroleum products into its storage tanks, or 6.7% less than the same period of 2017.

The overall decrease in loading volumes for the twelve months resulted mainly from the lower quantities of light oil products from ORLEN Lietuva refinery.

The preliminary sales revenue of the company’s oil terminals for December 2018 reached €2.8 million. The preliminary sales revenue for January – December 2018 of the company’s oil terminals’ totals €35.5 million (compared to a 2017 total of €38.3 million).

In December 2018 the company’s LNG terminals regasified and reloaded 544 000 MWh of natural gas; in the same period of 2017, that number was 458 000 MWh. During 2018 the company in total regasified and reloaded 9.196 million MWh of natural gas (compared to 2017’s total of 12.645 million MWh).

The preliminary sales revenue of the company’s LNG terminal for December 2018 was €5.3 million (in December 2017 it was €5.5 million, representing a reduction of 3.6%). Revenue consists of the regasification tariff fixed part (for booked annual capacities) and variable part of the amount of regasified LNG, as well as reloading tariffs. The preliminary revenue of the LNG terminal for the whole of 2018 is €64.5 million, 5.4% lower than the same period of 2017 (€68.2 million).

Total preliminary sales revenue of the company in 2018 amounts to €100.0 million, or 6.1% less than 2017’s €106.5 million.

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