International energy terminal operator KN Energies continues to record rapid growth – in the first half of 2025, the Company’s revenue increased by 20% year-on-year to EUR 51.1 million, while EBITDA rose by 25% to EUR 27.2 million. During the same period, KN Energies signed an important loading agreement with ORLEN Lietuva, strengthened partnerships in the Asia-Pacific region, and successfully continued new energies and environmental projects.
“The achieved financial results reflect the targeted and professional work of our team, translating into the company’s consistent growth and tangible benefits for shareholders,” says Tomas Tumėnas, Chief Financial Officer of KN Energies. The largest shareholder of the Company is the Ministry of Energy of the Respublic of Lithuania, holding 72.47% of shares.
Commenting on the company’s results, Tomas Tumėnas highlighted net profit, which rose 5.3x year-on-year to EUR 8.6 million.
According to him, this increase was driven by atypical results last year due to the planned drydock maintenance of the FSRU Independence. Last year, the Klaipėda LNG Terminal was out of operation for one and a half months, so this year the regasification and reloading volumes grew by almost 1.5 times. Consequently, higher profit was earned, with EBITDA and net profit figures improving in this segment.
In total, during the half-year, the Company reloaded 924 thousand tonnes of LNG from 42 carriers, of which 118.9 thousand tonnes were loaded into LNG trucks at the Klaipėda LNG Reloading Station. The majority of LNG – about 70% – in the first half of the year was imported by LNG carriers from the USA.
A significant development in this segment was the EUR 19.3 million contract signed in May with Kauno tiltai, the winner of an international tender, which will design and build an electricity connection under the Curonian Lagoon to the FSRU Independence. Once implemented, this project should reduce CO₂ emissions at the Klaipėda LNG Terminal by up to 30%. According to Company executives, the project will provide experience and expertise that can be applied in other countries, as the Klaipėda LNG Terminal will be among the first LNG terminals in Europe to be electrified in this way.
Liquid energy product loading remains stable
In the first half of the year, KN Energies loaded 1.83 million tonnes of liquid energy products at its terminals – 4% less than last year, mainly due to developments in global and regional markets and lower petrol transshipment volumes driven by limited fuel demand growth.
Nevertheless, financial results in the segment improved: revenue grew by 3% – from EUR 14.6 million to EUR 15 million, EBITDA increased by 15% – from EUR 6 million to EUR 6.9 million, and net profit rose by 21% – from EUR 3.1 million to EUR 3.7 million.
At the beginning of the year, a new agreement was signed with one of the Company’s key clients and strategic partners – ORLEN Lietuva. This agreement, important to both parties, will enable KN Energies to ensure stable operations at the Klaipėda Liquid Energy Terminal and the continuity of investments.
As a positive development, T. Tumėnas also pointed to the consistently increasing transshipment of biofuels, which in the first half of the year was 28% higher compared to the same period last year. “Through Klaipėda, Ukrainian ethanol was actively exported, and a new product – UCO (used cooking oil) – began to be handled. The Company is also preparing to handle other new products – SAF (sustainable aviation fuel) and methanol. Segment revenue was also boosted by higher income from product storage activities,” T. Tumėnas commented on the operations of the liquid energy product terminals segment.
Focus on growing regions
In the first half of 2025, net profit from commercial LNG activities amounted to EUR 1.8 million – 25% less than in the same period last year. Revenue remained relatively stable at EUR 5.1 million (+4.6%), but profitability was reduced by a 14.6% increase in costs, mainly due to different stages of international project implementation and related expenses.
Currently, KN Energies continues to operate the LNG terminal at the Port of Açu in Brazil, the commercial operation of four LNG terminals in Germany, and, in the summer, following intensive preparation, is taking over the technical operation of the second LNG terminal in Wilhelmshaven.
In the first half of this year, KN Energies also strengthened its focus on the Asia-Pacific region, where LNG infrastructure demand is rapidly increasing. In June, the Company extended its strategic cooperation agreement in Hanoi with South Korea’s SK Innovation E&S, while actively pursuing investment and partnership opportunities in the LNG sector in this and other fast-growing regions.
Technical and commercial studies for the CO₂ terminal to begin
KN Energies is further developing projects for the handling of new energies. A significant step was taken in June when a grant agreement was signed with the European Commission, which will provide more than EUR 3 million for technical and commercial studies of the planned CO₂ terminal in Klaipėda. In the same month, a market consultation was launched to assess interest in the planned Klaipėda CO₂ terminal and its potential demand.
“We are creating the conditions for KN Energies to become an important link in the regional CO₂ capture, storage, and transportation value chain. The results of the studies will enable a final investment decision to be made by 2027 and, if the decision is positive, to start construction and commercial operation of the terminal shortly thereafter,” said T. Tumėnas.
Together with partners, the Company is developing a cross-border CO₂ capture, transportation, and storage value chain that will provide a real decarbonisation solution for hard-to-abate sectors, ensuring the continuity of industrial activities and the long-term resilience of the Baltic region’s economy.
KN Energies is an international energy terminal operator that ensures safe and reliable flows of liquid energy products and liquefied natural gas (LNG) for users in the Baltic Sea region. The company helps clients worldwide develop sustainable energy infrastructure projects with its knowledge and skills. KN Energies currently operates three liquid energy product terminals in Lithuania and operates LNG terminals in Lithuania, Germany, and Brazil. Additionally, it provides commercial operation services for four floating LNG terminals in Germany.
