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AB Klaipėdos nafta preliminary revenue for August 2021

·2-min read

The preliminary revenue of the Company’s* oil terminals for August 2021 comprises EUR 1.6 million and is lower by EUR 1.0 million or by 38.5 % compared to August of 2020. The preliminary revenue of the Company’s oil terminals for the eight months of 2021 comprises EUR 14.0 million and is lower by 33.6 % compared to the same period of 2020.

The preliminary revenue of the Company’s Klaipėda LNG terminal for August 2021 comprises EUR 2.8 million (during the same month of 2020 – EUR 3.4 million). Klaipėda LNG terminal revenue from regulated activities consists of the regasification tariff fixed part (for booked annual capacities), variable part for amount of re-gasified LNG and reloading revenue. The level of Klaipėda LNG terminal revenue (for booked annual capacities) does not depend on regasification volume. Revenue is confirmed by the National Energy Regulatory Council (NERC) based on the approved methodology of State regulated prices in the natural gas sector and is calculated for the whole upcoming year. The preliminary revenue of Klaipėda LNG terminal for the eight months of 2021 decreased by 19.5 % compared to the same period of 2020. Lower revenue was affected by both, lower regasification volumes, compared to the same period last year, and proportionate reduction of security supplement in 2021, based on the surplus of LNG return from the period 2014-2019, which was established for the regulated activities of the Company, and is equal to EUR 1.9 million.

The preliminary revenue of the Company’s commercial LNG activity for August 2021 comprises EUR 0.2 million and is at the same level compared to August of 2020. The preliminary revenue of the Company’s commercial LNG activity for the first eight months of 2021 comprises EUR 1.7 million and is lower by 5.6 % compared to the same period of 2020.

Total preliminary revenue of the Company for January-August 2021 amounts to EUR 39.2 million and is lower by 24.8 % compared to the same period of 2020 – EUR 52.1 million.

Preliminary revenue of the Company, EUR million:

August

January - August

2021

2020

Change

2021

2020

Change

Oil terminals activity

1.6

2.6

-38.5%

14.0

21.1

-33.6%

LNG terminal activity

2.8

3.4

-17.6%

23.5

29.2

-19.5%

Commercial LNG activity

0.2

0.2

0%

1.7

1.8

-5.6%

Total

4.6

6.2

-25.8%

39.2

52.1

-24.8%

*Note: Only preliminary information of the Company is presented, excluding preliminary revenue of subsidiaries. Consolidated financial results of the Group are presented in the interim financial statements.

Mindaugas Kvekšas, Chief Financial Officer, +370 614 82665


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