Transparent, responsible, and long-term value-oriented KN governance

Corporate governance

KN Energies’ mission is to ensure safe, reliable and efficient access to the global energy market by sustainably developing, operating and investing in multifunctional liquefied natural gas terminals worldwide. Our goal is to support our clients in the transition to cleaner energy while maintaining their competitiveness.

The purpose of the corporate governance system is to support value creation and accountable management, contributing to the long-term success of KN Energies.

The Articles of Association of AB KN Energies are the primary document governing the Company’s operations. They define the legal form, objectives, governance structure, shareholder rights and the procedures for adopting key decisions. The Articles describe how the Company operates, the principles guiding decision-making and the powers of shareholders and governing bodies.

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Prevention of Corruption

KN operates responsibly and sustainably, adheres to the highest standards of business ethics, therefore does not tolerate any form of corruption in its activities and advocates honest business and transparent communication with all interested parties.

In order to improve the corruption-resistant environment, KN participates in the project “Transparency Academy” organized by the Special Investigation Service of the Republic of Lithuania.

The principles and concepts defined in KN Code of Conduct embody the commitment to conducting our business globally with the highest levels of ethics and integrity. Code of Conduct describes the way we work at KN and it guides us in KN business relationships. It contains our values and sets the standard for our actions and decision making. The Code helps us to build long term relationships with our colleagues, customers, suppliers, authorities, business partners, and other stakeholders.

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Anti-corruption measures

KN publishes a list of positions whose holders are required to declare private interests in accordance with the Law of the Republic of Lithuania on the Coordination of Public and Private Interests — by submitting data through the PINREG register of the Chief Official Ethics Commission (VTEK).
Private interests must also be declared by KN employees involved in procurement processes.

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Corruption prevention programme and implementation action plan

The objective of the 2023–2024 Corruption Prevention Action Plan for the institutions under the governance of the Ministry of Energy of the Republic of Lithuania and the Minister of Energy is to ensure long-term, effective and targeted corruption prevention within the Ministry of Energy and in the institutions assigned to the Minister’s area of governance. The plan also aims to improve existing and introduce new corruption prevention measures, thereby increasing transparency and openness of the institutions under the Ministry’s governance, as well as strengthening the resilience of employees to corruption.

Assessment of the likelihood of corruption

The purpose of the corruption likelihood assessment is to evaluate one or more areas of activity of a public sector entity from an anti-corruption perspective, in order to identify corruption risks and/or risk factors that may create conditions for employees or other persons to commit corruption-related offences, and to determine measures to reduce or eliminate the identified risks.

Enhanced due diligence and employee reliability

We aim to ensure that only employees of impeccable reputation work at KN. By ensuring their reliability, we also create an environment that is more resilient to corruption. Under the Corruption Prevention Law, the Company must approve a list of positions for which a request is submitted to the Special Investigation Service (STT) to provide information about the person. STT provides information within the scope defined by law.
When making decisions on appointments, KN carefully evaluates all information received and available.

To reduce the likelihood of corruption risks, KN applies enhanced due-diligence procedures not only for its employees but also for business partners.

  • Before appointing employees, KN — depending on their functions and the level of corruption risk — takes all possible measures to ensure that only trustworthy and reputable individuals join the Company. KN has an approved list of such positions.
  • To ensure the transparency and legality of partner activities, KN may apply various enhanced due-diligence checks before cooperation begins or during ongoing collaboration.

  

Anti-corruption education

Anti-corruption education is an activity aimed at increasing awareness, competence and attitudes related to corruption prevention. Committed to transparent operations, KN continuously strengthens the knowledge and awareness of its team through lectures, seminars, discussions, methodological support and other activities aimed at fostering a corruption-resistant environment. Employees are also encouraged to use training materials provided by other institutions. Our initiatives include:

  • September 2021: Remote training for KN employees, “Understanding corruption and its manifestation in Lithuania. Corruption risks in public procurement”, delivered by representatives of the Special Investigation Service and the Transparency Academy. The training focused on practical advice for organising transparent procurement. 86 employees participated.
  • November 2021: External training for KN’s collective management and supervisory bodies on private interest declaration, conflict-of-interest management, gift policy and cooling-off requirements. Delivered by an international anti-corruption expert.
  • March 2022: Remote training “Understanding corruption and its manifestation in Lithuania. Conflicts of interest”, delivered by the STT and Transparency Academy. Over 100 KN employees participated. The training addressed corruption risks relevant to KN, conflict-of-interest situations and the regulation of private-interest declarations.
  • March 2023: Remote training “Principles of creating a corruption-resistant environment. Gift policy”, delivered by the STT. Employees learned about anti-corruption environment principles, the role of gift policy and practical examples illustrating how to distinguish a gift from a bribe, along with recommendations on what to assess before giving or accepting gifts.

More information

Person responsible for corruption prevention

Darius Bručkus

Head of Prevention

[email protected]

+37066591617

Noticed a violation?

You can report suspected, ongoing or potential violations by emailing [email protected] or via the anonymous form “Report”.

Disclosure of activities

Information on the funds allocated for AB KN Energies public communication is available in the Public Information Producers and Disseminators (VIRS) Information System.

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