Klaipėda LNG terminal capacity allocated for 2024
2023-07-25
Klaipėda LNG terminal capacities
After the energy terminal operator KN (AB Klaipėdos Nafta) has concluded annual Klaipėda LNG terminal capacity allocation procedure, the LNG terminal's 6 terawatt-hour (TWh) regasification capacity for the 2024 terminal gas year has been allocated to four customers from Lithuania and Estonia.
In 2024, a total of about 34 TWh of natural gas is expected to be regasified, cargoes to be delivered by 34 conventional LNG carriers. Most of the natural gas (24 TWh) will be delivered to customers from Lithuania, Latvia and Poland, which booked long-term LNG terminal capacity last year. A further 4 TWh of capacity from the spot market will be allocated over the next year, based on the need to import natural gas to ensure the isolated operation of the electricity system and, in the absence of such a need, to meet natural gas demand on a case by case basis.
"The global natural gas market is still full of uncertainties, therefore it is of utmost importance that in such turbulent times Klaipėda LNG terminal operates smoothly and almost at maximum capacity, and KN fully ensures the provision of regasification services in line with the needs of the regional market. A total of 6 customers will use the LNG terminal services next year. We are delighted that the capacity allocation model, which was updated in 2022, has contributed to the stability in the use of the LNG terminal and allows the terminal users to plan their cargo deliveries accurately, thus ensuring a reliable natural gas supply at the most competitive price on the market for the customers in Lithuania and the surrounding countries", – says Mindaugas Navikas, Chief Commercial Officer of KN.
From the beginning of the year until 23 July, the LNG terminal has received 20 large scale LNG carriers, and the same number of LNG carriers is planned to be received by the end of the year. During this period, 2.9 million cubic metres of LNG were delivered, with the majority (48%) coming from Norway. In 2023 natural gas was also imported from the USA, Nigeria and Algeria. It is planned that about 37 TWh of natural gas will be regasified at Klaipėda LNG terminal this year.
By comparison, in 2022, 46 LNG carriers brought in almost 5 million cubic metres of LNG, with the majority (65%) coming from the USA. Last year, the LNG terminal regasified a total of 32.1 TWh of natural gas.
As of 1 May 2022, each LNG terminal user, i. e., companies importing natural gas through Klaipėda LNG terminal, pays the same fixed price for LNG terminal services. Meanwhile, the security supplement paid by natural gas consumers in Lithuania does not currently include the costs of maintaining the LNG terminal.
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