In April 2018, the operator of oil and liquefied natural gas (LNG) terminals KN (AB Klaipedos Nafta) reloaded 403 thousand tonnes of oil products into the storage tanks of the Klaipeda and Subacius oil terminals, a decline of 7.4 % from the year-earlier figure of 435 thousand tonnes.
According to CEO of KN Mindaugas Jusius, the decline in April's reload results are related with the fact that the major KN client AB Orlen Lietuva was carrying out refinery maintenance, which caused a temporary reduction in the volume of oil products exports.
"The refinery maintenance affected reload volume in April but had no influence on the total reload results of the first four months as the reduction in the volume of Lithuania's export shipments was offset by an increase in the volume of transit shipments from Belarus," pointed out Mr. Jusius.
Oil product load into KN-controlled storage tanks in Klaipeda and the Subacius oil storage facility increased 22.8% in January-April this year. During this period oil product reloading volumes reached 2,442 thousand tonnes, compared with 1,988 thousand tonnes a year ago.
"The situation in the oil market was rather complicated last year. We had to reconsider our activity processes and concentrate our efforts on seeking ways to make the operation of our oil terminal more flexible and attract new shipments and customers. There is no doubt that this strategy works for us," say CEO of KN.
The preliminary sales revenues of KN oil terminals in April 2018 made up EUR 2.5 million, a growth of 3.7% from the year-earlier figure of EUR 2.4 million. The preliminary sales revenues of oil terminals totalled EUR 13.7 million in January-April 2018, an increase of 23.4% compared with EUR 11.1 million generated during the same period last year.
In April 2018, KN liquefied natural gas (LNG) terminals regasified and supplied the LNG transmission system with 1,150 thousand MWh of natural gas, compared with 1,436 thousand MWh in April 2017. A total of 2,250 thousand MWh of natural gas was regasified and reloaded in January-April 2018, versus 2,977 thousand MWh during the same period last year. The volume of operations of the LNG terminal has decreased since the start of 2018 due to lower reserved capacities.
The preliminary sales revenues of the LNG terminal made up EUR 5.1 million in April 2018, compared with EUR 5.5 million in April 2017. The revenues consist of the preliminary fixed part of the regasification price (for annual consumption capacities) and the variable part of the regasification price for the regasified volume as well as the revenues of LNG reload services. The preliminary revenues of LNG terminals amounted to EUR 21.8 million in January-April 2018, a decline of 9.2% compared with the year-earlier figure of EUR 24.0 million.
In January-April 2018, KN earned EUR 35.5 million in total sales revenues, which were 1.1% higher than in the same period last year (EUR 35.1 million).
Petroleum products transhipment and LNG re-gasification and reloading:
| April | January - April | |||||
| 2018 | 2017 | Change, % | 2018 | 2017 | Change, % | |
| Petroleum products reloaded, thousand tons | 403 | 435 | -7.4% | 2,442 | 1,988 | 22.8% |
| LNG re-gasification and reloading, thousand MWh | 1,150 | 1,436 | -19.9% | 2,250 | 2,977 | -24.4% |
Petroleum products transshipment, LNG re-gasification and reloading volumes in 2018:
| January | February | March | April | |
| Petroleum products reloaded, thousand tons | 776 | 664 | 599 | 403 |
| LNG re-gasification and reloading, thousand MWh | 263 | 328 | 509 | 1,150 |
Preliminary revenue of the Company, EUR million:
| April | January - April | |||||
| 2018 | 2017 | Change, % | 2018 | 2017 | Change, % | |
| Oil terminals' activity | 2.5 | 2.4 | 3.7% | 13.7 | 11.1 | 23.4% |
| LNG terminal activity | 5.1 | 5.5 | -6.7% | 21.8 | 24.0 | -9.2% |
| Total: | 7.6 | 7.9 | -3.8% | 35.5 | 35.1 | 1.1% |
Mindaugas Jurkaitis, Acting Chief Financial Officer, +370 46 391 768.
