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    Lithuanian LNG Imports Soar in Oct

Summary

Shipments reached 2,703 MWh of LNG in October, up from 709 MWh a year earlier.

by: Joseph Murphy

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Lithuanian LNG Imports Soar in Oct

Lithuania’s sole LNG terminal in Klaipeda regasified 2,703 MWh of LNG in October, up from a mere 709 MWh a year earlier, its operator Klaipedos Nafta (KNG) said on November 8. Shipments reached 15,296 MWh during the first ten months of the year, almost double the 7,811 MWh that arrived a year ago.

Lithuania has cited low international LNG prices and high gas demand as the factors behind a steep growth in the Klaipeda terminal’s use this year. It has recently signed up new customers for its gas and plans to buy its own floating storage and regasification unit by 2024, instead of continuing to rent Hoegh LNG’s Independence vessel.

The terminal can import 4bn m3/yr at full capacity. KN earned sales revenues of €6.4mn ($7mn) in October and €59.7mn in the first ten months of the year, up 18.5% and 10.8% yr/yr respectively.