Sunday, August 9, 2020

Klaipedos Nafta News

KN Bags $148Mn Loan for its LNG Terminal

Image: Klaipedos Nafta

The Nordic Investment Bank (NIB) and Lithuanian liquefied natural gas (LNG) and oil terminal operator AB 'Klaipedos Nafta' (KN) have signed a EUR 134.1 million (USD 148 million) loan agreement to optimize costs of LNG terminal.The 25-year maturity loan will be directed to finance the rent payable for the Floating Storage and Regasification Unit (FSRU).“Through this loan agreement we are continuing to support Lithuania´s security of energy supply…

Lithuania's KN Bids for LNG Terminal Operator in Brazil

Image: Klaipedos nafta

Lithuania's state-run oil and LNG terminal operator Klaipedos Nafta (Klaipedos Oil, KN) said on Wednesday it’s currently negotiating an operations and maintenance services agreement for a LNG terminal in Brazil with Brazils' Gas Natural Acu (GNA).Under such Agreement KN may commit to incorporate a company in Brazil (hereinafter – Brazilian  SPV) for the provision of such services.For that reason, KN may need to give a…

Klaipedos Nafta Bids for Cyprus LNG

Pic: Klaipedos Nafta

Lithuanian liquefied natural gas (LNG) terminal operator Klaipedos Nafta (KN) is partnering with the market leaders in the tender procedure for the design, construction and operation of the Cyprus LNG import terminal.The operator of the Klaipėda Oil Terminal submitted the bid alongside consortium partners Samsung C&T, Posco E&C, Mitsui O.S.K. Lines (MOL) and Osaka Gas.If successful, KN will provide long-term operation and maintenance services for this terminal for a period of up to 20 years.DEFA…

Klaipeda LNG in Full Capacity

Image: Klaipedos Nafta

Lithuania's liquefied natural gas (LNG)  terminal Klaipėdos Nafta (KN) said that its terminal capacities are now fully booked for the rest of the Gas Year, following the favorable situation in the international gas markets that has been determining the highest operative efficiency of the LNG terminal since the launch of its activities.The Gas Year is calculated from 1 October of the current year until 30 September of…

Nauticor Acquires World's Biggest LNG Bunkering Ship

Kairos. Photo: Nauticor

AB Klaipedos nafta (KN), the operator of oil products and liquefied natural gas (LNG) terminals, and the German company Nauticor GmbH & Co. have agreed on the sale of KN’s 10% stake in the charter contract of Kairos, the world’s largest LNG bunker supply vessel to Nauticor.This leaves the world's biggest LNG bunkering vessel at Nauticor's disposal. The transfer shall become effective as of 30 September 2019, said a press release.World’s largest LNG bunker supply vessel Kairos started operations in Q4/2019.

Lithuania Plans to Buy an FSRU

(Photo: Hoegh LNG)

Lithuania has given the go ahead to state-owned Klaipedos Nafta to purchase a liquefied natural gas (LNG) storage vessel by late 2024, as it shores up energy supplies and reduces its reliance on Russian natural gas.Klaipedos Nafta is currently leasing a floating storage and regasification unit (FSRU), called Independence, from Norway's Hoegh LNG.The use of the vessel has allowed Lithuania to import LNG since 2014, breaking…

Norway will be Lithuania's 2016 Top Gas Supplier

File Image: a modern LNG carrier (credit: DNV GL)

Lithuania will import more gas from Norway than from former sole supplier Russia in 2016 after developing infrastructure to support liquefied natural gas (LNG) imports, the country's energy minister said on Monday. Russia's Gazprom had enjoyed a supply monopoly until the end of 2014, when Lithuania opened a floating LNG import terminal to reduce energy dependence on its former Soviet master. That allowed it to import gas from Norwegian tankers, as well as via pipeline from Russia.

LNG Deliveries to Lithuania to Triple

LNG deliveries to Lithuania will triple to the end of September as a result of two new contracts signed by the country's Klaipeda terminal, its operator Klaipedos Nafta said on Friday. Lithuania opened the floating import terminal in Klaipeda at the end of 2014 to cut its dependence on Russian energy imports. Klaipedos Nafta said in a statement it has signed contracts with Lithuanian fertilizer producer Achema and gas supplier Lietuvos Duju Tiekimas (LDT). It already had a deal with Lithuanian Litgas.

Lithuania Opens Door to LNG Re-exports

Lithuania's parliament on Tuesday approved amendments which will allow the Baltic state to re-sell liquefied natural gas (LNG) on the international markets, the energy ministry said. The current laws require the country's regulated energy and heat producers to buy at least 540 million cubic metres (mcm) from a floating LNG terminal in Klaipeda on the Lithuanian coast to ensure it remains operational. But gas demand has been falling due to increased use of biomass for heating and warmer weather…

Lithuania Considers Re-exporting LNG as Russian Gas Gets Cheaper

Lithuania is considering allowing its liquefied natural gas import terminal to re-export LNG to global markets during summer when local demand declines, the facility's operator said on Monday. The Independence terminal, which opened last year, was built to reduce Lithuania's total reliance on pipeline supplies from Russia's Gazprom, by giving it access to global LNG supplies. Since the terminal opened, Gazprom has cut the price of gas supplies to Lithuania by 20 percent to maintain market share…

Bomin Linde, Lithuanian LNG Terminal sign MoU

OSLO, Feb 19 (Reuters) - Lithuania's liquefied natural gas import terminal and Germany's Bomin Linde LNG will work together to develop the use of LNG as marine fuel in the Baltic Sea, the terminal's operator Klaipedos Nafta said on Thursday. Lithuania opened the first LNG import terminal in the Baltic states last December to cut its dependence on pipeline gas imports from Russia. "In close cooperation both companies aim to jointly develop the LNG fuel market including the necessary infrastructure in Baltic Sea…

Litgas, Statoil Consider LNG Bunkering Business in Baltic

Lithuanian liquefied natural gas (LNG) importer Litgas and Norway's Statoil are counsidering setting up an LNG bunkering business in the Baltic region as regulations force vessels to switch to cleaner fuels, the Lithuanian company said. The business, if launched, could involve additional LNG volumes on top of the 0.5 billion cubic metres (bcm) of gas per year Litgas has agreed to buy from Statoil for five-years. "Litgas…

Bomb Threat Cut Lithuania LNG Terminal Output

Gas supply from Lithuania's liquefied natural gas (LNG) import terminal was interrupted on Wednesday due to a bomb threat that later turned out to be a hoax, the terminal's operator Klaipedos Nafta said on Wednesday. The terminal is now preparing to restart, a spokeswoman said. The floating terminal, leased from Norway's Hoegh LNG , was opened last year and received the first commercial LNG cargo from Norway in late December.

Lithuania Expects First Commercial LNG Cargo at end-Dec

Norway's Statoil is expected to ship the first commercial cargo of liquefied natural gas to Lithuania by the end of December, the import terminal's operator said on Tuesday. Lithuania plans to cover about a fifth of its annual gas needs in 2015 through imports of super-cooled gas delivered by tankers to cut its dependence on pipeline gas imports from Russia. "We expect the (LNG) cargo to arrive on Dec. 22 or Dec. 23," a spokeswoman for Klaipedos Nafta…

Lithuania Appoints Oil Terminal Firm CEO as Energy Minister

Lithuania President Dalia Grybauskaite has appointed the chief executive of oil terminal company Klaipedos Nafta as the country's energy minister, the president's office said on Monday. Rokas Masiulis, 45, replaces Jaroslav Neverovic who was dismissed in August amid disagreements with Prime Minister Algirdas Butkevicius over appointment of a deputy energy minister. Majority state-owned Klaipedos Nafta operates an oil…

Lithuanian Firm Seeks LNG for Terminal Testing

Lithuania will seek to buy up to 170,000 cubic meters of liquefied natural gas on a spot basis to test its LNG import terminal, which is expected to come online in December, the company in charge of the project said on Thursday. Klaipedos Nafta has signed a 10-year agreement with Norway's Hoegh LNG to lease a floating gas storage and regasification vessel, which will serve as an import terminal at the Baltic Sea port city of Klaipeda.

Höegh LNG - Takes delivery of the FSRU "Independence"


Höegh LNG has taken delivery of the "Independence", the second of the four newbuilt FSRUs that the Company has ordered from Hyundai Heavy Industries Ltd (HHI), on May 12. The "Independence" is under a long term charter to Klaipedos Nafta in Lithuania, which will commence no later than by the end of the year. In the interim, the Company will deploy the unit in the short term LNG market. Sveinung J.S. Støhle, President and CEO of HLNG…

PKN's Loss-Making Lithuania Refinery Seeks Govt Help

Poland's PKN Orlen asked Lithuania's government on Monday for lower rail transport costs and other help needed to restore its refinery in the Baltic state to full output and profitability. The 200,000 barrel-per-day Mazeikiai refinery, PKN's second biggest, has been limited to 60 percent of capacity since posting a record net loss of $94.3 million in 2013. "There is an urgent need for certain decisions to be made by both…

Hyundai Heavy Names First Newbuild LNG FSRU

The world’s first newbuilding LNG floating storage regasification unit

Hyundai Heavy Industries Co., Ltd. (HHI) held a naming ceremony for the world’s first newbuilding LNG floating storage regasification unit (LNG FSRU), ordered from Höegh LNG in June 2011. The 170,000 cbm LNG FSRU, measuring 294 meters in length, 46 meters in width and 26 meters in depth with the storage capacity of 70,000 metric tons of chilled natural gas, will be chartered to Lithuania’s Klaipedos Nafta under a long-term contract.