News and insights
KN BOARD OFFERS TO PAY THE NET PROFIT OF 2018 IN DIVIDENDS
The Board of KN (AB “Klaipėda nafta”), the operator of oil products and liquefied natural gas (LNG) terminals, has offered to pay to the shareholders the dividends amounting to EUR 11.6 million, i.e. the total profit of 2018 or a bit more than EUR 0.03 per one share. This decision…
FSRU INDEPENDENCE TO RENEW ACTIVITIES AFTER TECHNICAL INSPECTION
The Arctic Princess liquefied natural gas (LNG) carrier that arrived at the Port of Klaipėda on Wednesday marks the end of technical inspection and maintenance of the floating storage and regasification unit (FSRU) that began in late February. Carried out by LNG and oil terminal operator Klaipėdos Nafta (KN) together…
NO ENVIRONMENTAL VIOLATIONS AT THE SUBAČIUS OIL TERMINAL FOR OVER TEN YEARS
A general inspection was carried out at KN (AB “Klaipėdos nafta”) Subačius oil terminal at the end of February. The terminal is used to store Lithuania’s oil product (fuel) reserves. No environmental violations were detected during the inspection. According to the Environmental Protection Department under the Ministry of Environment, it…
THE TANKS OF "INDEPENDENCE" WILL BE WARMED UP FOR THE FIRST TIME
On Saturday, the liquefied natural gas (LNG) and oil terminal operator KN (Klaipėdos nafta) together with Hoegh LNG, the owner of the LNG floating storage and regasification unit (FSRU) “Independence”, will start scheduled technical inspection and maintenance of the FSRU. The inspection of the hull, facilities and tanks of the…
THE 10TH LOADING FROM A SHIP AT KLAIPĖDA LNG RELOADING STATION
On Wednesday, the LNG reloading station operated by liquefied natural gas (LNG) and oil terminal operator KN (Klaipėdos nafta) carried out the 10th operation of reloading LNG from a gas carrier to ground storage tanks. With the global increase in the small-scale LNG market, an interest in the LNG reloading…
KN AMONG THE TOP BALTIC COMPANIES IN TERMS OF INVESTOR RELATIONS
KN, the operator of oil and liquefied natural gas (LNG) terminals, is ranking third among companies recognised the best in the category “Investor Relations of the Year” of the Nasdaq Baltic Awards 2019. KN was granted this award for maintaining high standards in relations with investors. The title of…
HAVING OVERCOME THE CHALLENGES OF 2018, KN WILL FOCUS MORE ON THE OPERATIONAL EFFICIENCY
The year of 2018 was full of challenges for KN (AB “Klaipėdos nafta”) – the operator of oil products and liquefied natural gas terminals: the situation in the market was tense and dynamic with the geopolitical environment being the intensive irritant and the growing costs being the major concern. Nevertheless,…
INTERNATIONAL EXPERTS CONSULT KN TO PREPARE NEW BUSINESS STRATEGY
KN (Klaipėdos Nafta), oil and LNG terminal operator, has selected international experts, who will consult company on the preparation of the new 10-year operational strategy. Global strategy consulting firm Roland Berger won the consultancy tender announced by KN. KN’s current business strategy is valid until 2020, so the company…
The 20th small-scale reloading operation at Klaipėda LNG terminal
The 28th of January is the date of the 20th small-scale LNG reloading operation performed at the liquefied natural gas (LNG) terminal managed by KN (AB “Klaipėdos nafta”). On Monday morning, the LNG feeder and bunker vessel “Kairos” arrived to Klaipėda LNG terminal for the reload operation. LNG reload…
VESSEL TO SERVICE THE LNG RELOADING STATION STARTS FIRST OPERATION IN KLAIPĖDA
On Monday the liquefied natural gas (LNG) feeder and bunker vessel “Kairos” starts its first reload operation in Klaipėda. Next to the German LNG supplier Nauticor one of the ship’s charterers is oil and liquefied natural gas (LNG) terminal operator Klaipėdos Nafta (KN). “Kairos” being the world’s largest LNG bunker…
7 Ways Lithuania Will Benefit from Buying Out the LNG Terminal Floating Storage Regasification Unit
On 18 December, the Seimas adopted amendments to laws on the long-term operational prospects of the Klaipėda Liquefied Natural Gas (LNG) Terminal. What value will Lithuania receive by buying out the LNG floating storage regasification unit (FSRU) when the lease agreement ends for the ship in 2024? Learn about…
The fifth KN Board member appointed
On 2 January, the Supervisory Board of the liquefied natural gas (LNG) and oil operator KN (AB Klaipėdos nafta) appointed the fifth member of the Board – a British with a longstanding experience in the global gas and oil business Ian Bradshaw. Mr. Bradshaw is a professional who has…
