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AB Klaipėdos Nafta preliminary activity and revenue results for the September 2018

In September 2018 AB Klaipėdos nafta (hereinafter – the Company or KN) has reloaded 434 thousand tons of petroleum products in Klaipėda and Subačius oil terminals. During the same period of 2017 where reloaded 666 thousand tons of cargos.

During the first nine months of 2018 the Company in total reloaded 5,030 thousand tons of petroleum products into its storage tanks or less by 3.8 per cent compared to the same period of 2017 when 5,226 thousand tons were reloaded. The overall decrease in loading volumes for the nine months was affected by the decreased transit cargos volumes.

The preliminary sales revenue of the Company’s oil terminals’ for September 2018 amount to EUR 2.0 million (during the same period of 2017 – EUR 3.2 million). The preliminary sales revenue for January – September 2018 of the Company’s oil terminals comprise EUR 27.2 million (during the same period of 2017 – EUR 27.8 million).

“Assessing the results of three quarters of the year we have to note that our main clients reloaded more cargo than the initial plan and exceeded their liabilities. During the third quarter of the year the need for oil product transshipment through the sea was reduced by the clients. However, oil product transshipment business is quite cyclic and has a perceptible seasonal influence. According to that, more cargo is handled via oil terminal during cold weather. That is why we evaluate the situation rationally and have already started infrastructure preparation works for cold season as well as for the higher transhipment volumes during the last quarter of the year”, – said General Manager of KN, Mindaugas Jusius.

Image: AB “Klaipėdos nafta”

In September 2018 the Company’s Liquefied Natural Gas (LNG) terminals has re-gasified and reloaded 1,101 thousand MWh of natural gas in the same period of 2017 were reloaded 1,955 thousand MWh. During the first nine months of 2018 the Company in total re-gasified and reloaded 7,102 thousand MWh of the natural gas (during the same period of 2017 – 10,667 thousand MWh).

The preliminary sales revenue of the Company’s LNG Terminal for September 2018 comprise to EUR 5.4 million (September 2017 – EUR 5.6 million). Revenue consists of the re-gasification tariff fixed part (for booked annual capacities) and variable part for amount of regasified LNG as well as and reloading tariffs. The preliminary revenue of the LNG terminal for the first nine months of 2018 comprise EUR 48.5 million and are lower by 6.2 per cent compared to the same period of 2017 (EUR 51.7 million).

Total preliminary sales revenue of the Company in the first nine months of 2018 amount to EUR 75.7 million, or less by 4.8 per cent compared with the same period of 2017 – EUR 79.5 million.
Source: AB Klaipedos Nafta

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