Klaipėda LNG terminal reaches new milestone

Klaipėda LNG terminal in Lithuania began the year 2021 by exceeding 200 LNG operations, counting from the beginning of the LNG terminal operation.

The 200th loading operation was performed from 31 December to 1 January from a small-scale LNG carrier.

On 2 and 3 January, the loading was performed from the LNG carrier Point Fortin, which delivered about 140,000 cubic meteres of LNG from Cameron LNG terminal, USA. This is its first visit to Klaipeda port.

Point Fortin, built in 2010 and sailing under the flag of Panama, is technically identical to the LNG terminal’s FSRU Independence.

Last year, a total of 8 LNG cargoes were delivered from the USA. This is the twelfth LNG shipment from the USA and the first this year.

From the start of the operation, the Klaipėda LNG terminal handled a total of about 86 terawatt-hours of LNG. 78 per cent was imported from Norway, about 12 per cent was from the USA, and the rest was from Russia, Nigeria, Trinidad and Tobago.

72 cargo handling operations were performed at the LNG terminal last year, with cargo from the USA accounted for about 34 per cent of the total cargo structure.

Chief commercial officer of KN Mindaugas Navikas commented: “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 1st 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.”

More than 14 terawatt hour of regasification capacity has been booked at the LNG terminal for 2021. The Law on the LNG Terminal stipulates that the terminal will operate until at least 31 December 2044. Regional demand for natural gas is expected to increase with the implementation of the GIPL project and the integration of the Baltic States into the single European natural gas market.