The beginning of 2021: more than 200 operations at Klaipėda LNG terminal

The new calendar year in Klaipėda Liquefied Natural Gas (LNG) terminal began by exceeding 200 LNG operations, counting from the beginning of the LNG terminal operation.

From December 31^st to January 1^st, the 200th loading operation was performed from a small-scale LNG carrier, and on January 2-3 the loading was performed from the LNG carrier Point Fortin, which delivered about 140 thousand. cub. m of LNG from Cameron LNG terminal, USA.

This is the first visit of the LNG carrier Point Fortin to Klaipeda port. Point Fortin, built a decade ago and is technically identical to the LNG terminal's FSRU Independence, is sailing with the Panamanian flag and visited Klaipeda port for the first time. This is already the 12^th LNG shipment from the USA and the first this year. Last year, a total of 8 LNG cargoes were delivered from the USA.

From the start of operation of the LNG terminal, a total of about 86 TWh of LNG has been handled. During this period, LNG was mostly imported from Norway (78%), about 12% – from the USA, the rest from Russia, Nigeria, Trinidad and Tobago. Last year alone, 72 cargo handling operations were performed at the LNG terminal, cargo from the USA accounted for about 34 percent of the total cargo structure.

"Although last year's coronavirus crisis affected many industries, the LNG sector has had the least impact compared to other energy sectors. Due to the changed supply-demand balance, last year was particularly favorable for the import of LNG from the USA to Europe. This was mainly due to the emergence of new LNG liquefaction capacity in the USA. As last year, LNG terminal customers can keep on taking advantage of LNG market fluctuations and LNG terminal flexibility. From 1^st January the new LNG terminal service tariffs have entered into force and hopefully will stimulate the interest of existing and potential terminal users in long-term contracts,” comments Mindaugas Navikas, Chief Commercial Officer of KN.

For 2021, more than 14 TWh of regasification capacity has already been booked at the LNG terminal. The Law on the LNG Terminal stipulates that the terminal will operate until at least 31^st December 2044. Regional demand for natural gas is projected to increase with the implementation of the GIPL project and the integration of the Baltic States into the single European natural gas market.