KN TO SHARE GOOD GOVERNANCE PRACTICE

KN (AB „Klaipėdos nafta“), the operator of oil and liquefied natural gas (LNG) terminals has become a national corporate member of the Baltic Institute of Corporate Governance (BICG). The membership of this organisation is important for a company promoting and applying the principles of good governance.

KN complies with high business conduct standards in everyday activity and applies the best corporate governance practice in accordance with the principles of corporate governance and good management of the Organisation for Economic Co-operation and Development (OECD). These principles are applied to companies listed on NASDAQ OMX.

In carrying out its activity, KN not only adheres to the highest standards of corporate governance but also ensures that society and investors are provided with important information in detail and due time. Based on good corporate governance practice, KN is considered a trustworthy oil and LNG terminal operator, which creates added value by implementing projects and pursuing balanced development.

“KN is an active, professional, transparent and socially responsible company, which has proven its ability to integrate new activities in the Lithuanian energy sector and adapt to the changes on the global market. KN’s financial and performance results not only place the company in a strong position to operate as profitably as modern European energy companies but also allow KN to be valued by the leaders of the global gas market as one of the most advanced energy companies in Lithuania. We think that our corporate management experience will also be beneficial to other companies which seek to promote the best corporate governance practice in the Baltic countries,” says CEO of KN Mindaugas Jusius.

As a corporate member of BICG, KN intends to participate in the events of BICG and embrace the latest trends of corporate governance.

About BICG:
BICG has been applying the guidelines of good corporate governance in Lithuania, Latvia and Estonia since 2009. BICG is a non-profit, non-governmental association, uniting the leading companies of the region and political leaders. BICG aims to become the most transparent civil society organisation in the Baltic countries, accessible to all people.