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AB Klaipėdos nafta preliminary revenue of the Company for the July 2020

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AB Klaipėdos nafta (further the Company) reviewed operating segments since the beginning of the second quarter of 2020 and presents revenue disclosures accordingly. The following operating segments of the Company are:

  • Oil terminals activity, that includes Klaipėda oil terminal and Subačius oil terminal,
  • Regulated LNG activity in Klaipėda and
  • Commercial LNG activity, that includes small-scale LNG reloading station in Klaipėda and Business development projects.

The preliminary sales revenue of the Company’s oil terminals for the July 2020 comprised EUR 2.4 million and is lower by EUR 0.5 million or by 17.2 per cent compared to July of 2019.  The preliminary sales revenue is lower due to decrease of transhipment quantities of oil products, compared to the same period of 2019. The preliminary sales revenue of the Company’s oil terminals for the first seven months of 2020 comprised EUR 18.5 million and is the same compared to the first seven months of 2019.

The preliminary sales revenue of the Company LNG terminal for July 2020 comprised EUR 3.6 million (during the same month of 2019 – EUR 5.9 million). LNG terminal revenue consists of the regasification tariff fixed part (for booked annual capacities), variable part for amount of regasified LNG and reloading revenue from regulated activities. The level of Klaipėda LNG terminal revenue (for booked annual capacities) does not depend on regasification volume. Revenue is confirmed by the National Energy Regulatory Council (NERC) based on the approved methodology of State regulated prices in the natural gas sector and is calculated for the whole upcoming year. The preliminary sales revenue of LNG terminal for the first seven months of 2020 decreased by 37.7 per cent due to the reduction of security supplement of Klaipėda LNG terminal from the 1st January of 2020.

The preliminary sales revenue of the Company’s Commercial LNG activity for the July 2020 comprised EUR 0.2 million.  If compared to the respective period last year, the preliminary sales revenue is higher due to Business development projects consultation revenue and increase of small-scale LNG station revenue. The preliminary sales revenue of the Company’s Commercial LNG activity for the first seven months of 2020 comprised EUR 1.6 million.

Total preliminary sales revenue of the Company for the January-July 2020 amount to EUR 45.9 million and is lower by 23.5 per cent compared to the same period of 2019 - EUR 60.0 million.

Preliminary revenue of the Company, EUR million:

JulyJanuary - July
20202019Change20202019Change
Oil terminals activity2.42.9-17.2%18.518.50.0%
LNG terminal activity3.65.9-39.0%25.841.4-37.7%
Commercial LNG activity0.20.0100.0%1.60.116 times
Total6.28.8-29.5%45.960.0-23.5%

Comment by the Company management:

Despite the unfavourable external circumstances beyond control of the Company in 2020, which were reinforced both by the COVID-19 pandemics and geopolitical environment, KN managed to maintain the same level of preliminary sales revenue from the oil terminals activity in January-July, 2020, as in the same period of 2019.

The main factor, which influenced the total Company‘s revenue result in January-July, 2020, is the reduction of security supplement of Klaipėda LNG terminal from the 1st January of 2020. With this decision the Company contributes to the reduction of the cost of LNG terminal infrastructure for consumers in Lithuania. In the light of this decision, despite the record levels of LNG terminal in Klaipėda activities, the preliminary sales revenue of LNG terminal for the first seven months of 2020 decreased by 37.7 per cent.


Jonas Lenkšas, Chief Financial Officer, +370 694 80594.

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