Thursday, August 11, 2022

HomeLNGSeventh LNG cargo from the US arrives at Klaipėda

Seventh LNG cargo from the US arrives at Klaipėda

The gas carrier BW Lilac will deliver liquified natural gas (LNG) from the US port of Louisiana to Lithuania’s terminal operated by KN. This is the first visit of the gas carrier BW Lilac to Klaipėda port, bringing about 155,000 cubic metres of LNG.

This will be the seventh LNG cargo from the US in 2020 at Klaipėda LNG terminal and the fourth in the new year of natural gas (2021), which began on 1 October of this year. Totally 9 LNG cargoes from the US have been delivered since the LNG terminal in Klaipėda started its operations in 2014.

Mindaugas Navikas, KN Chief Sales Officer, noted that the US has been exporting natural gas since 2016 and in 2019-2020 significantly increased exports to Europe. This was mainly due to an increase in liquefaction capacity and new emerging projects in the US that boosted demand and supply to Europe.

“Although this year is rather exceptional than reflecting a long-term trend for the global LNG market, Klaipėda LNG terminal users can take the best advantage of the current market situation and acquire the most favourable cargoes both in terms of price and existing contractual obligations with suppliers,” Mr Navikas said. “Thanks to the flexibility of terminal services, we can quickly respond to customer needs and thus increase the competitiveness of our existing infrastructure. We also hope that from 2021 onwards the changed pricing of the LNG terminal reloading services and its differentiation according to the size of carrier/cargo will encourage the attraction of new users or extra quantities of cargo.”

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