Estonia's Eesti Energia to Import Novatek Gas

Maritime Activity Reports, Inc.

August 23, 2019

Pic: Klaipedos nafta

Pic: Klaipedos nafta

Estonia's energy group Eesti Energia is all set to import gas from Russia's largest private gas company Novatek via Lithuania's LNG terminal based in Klaipeda, which is operated by KN,  in September.

The contract with the new Klaipeda LNG terminal user was signed on Thursday. It is planned that the first cargo of  Eesti Energia in the history of Klaipėda LNG Terminal will arrive in Klaipėda at the end of September.
 
“The contract signed with Eesti Energia confirms that the conditions for using our reliable terminal satisfy the users of the terminal and natural gas users in Lithuania and abroad. Gas was already imported to other Baltic countries through Klaipėda LNG Terminal before, but it is important that during the period of low LNG prices several new terminal users found business opportunities and tried the terminal services," said Arūnas Molis, head of Klaipėda LNG Service of KN.

Molis added: "The growing number of Klaipeda LNG Terminal users demonstrates confidence of business in the value chain created by our company, brings more competition and allows to supply gas at a more competitive price. The number of the Terminal users has doubled over the summer, and the capacity booked for autumn and winter gives us an optimistic view - hopefully new users of the terminal will continue to use it in the future after trying out the services.”  
 
“We are committed to providing our customers with competitively priced energy and smart solutions. Now we have taken a step forward in cooperation with Klaipeda LNG Terminal, which enables us in given market situation to purchase LNG at competitive price, to regasify and bring it to our clients in the Baltics,” said Eero Sirendi, Head of Energy Trading at Eesti Energia.
 
Due to a favorable situation in the international gas markets, Klaipėda LNG Terminal has reached its highest operative efficiency since the launch of its activities during the last months of the first half of 2019 and enabled supply of gas not only to customers in Lithuania but also to consumers in other Baltic States.

In first half of the year, Klaipėda LNG terminal accepted 15 LNG carriers (5 LNG carriers in the first six months of 2018), which brought 402 thousand tons of LNG (300 thousand tons in the first six months of 2018).

The successful first half of the year of LNG terminal operations in Klaipėda is also marked by an agreement signed with the third user of Klaipėda LNG Terminal, UAB Imlitex. The capacities of the LNG terminal have been almost fully booked until October, which marks the end of the current gas year, with no additional cargo arrival windows available.
 
This year Klaipeda LNG Terminal provided regasification services to UAB Lietuvos Energijos Tiekimas, AB Achema and UAB Imlitex.

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