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AB Klaipėdos nafta preliminary revenue for November 2021

·2 min read

The preliminary revenue of the Company’s* oil terminals for November 2021 comprises EUR 1.9 million and is lower by EUR 0.4 million or by 17.4 % compared to November of 2020. The preliminary revenue of the Company’s oil terminals for the eleven months of 2021 comprises EUR 19.2 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 November 2021 comprises EUR 2.7 million (during the same month of 2020 – EUR 3.5 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 eleven months of 2021 decreased by 19.4 % compared to the same period of 2020. Decline in revenue was affected mainly by lower regasification volumes, compared to the same period of the previous year, and by the reduction of LNG security supplement income in 2021 due to proportionally recognised repayment of the excess returns (surplus income) from regulated activities during the period 2014-2019 and repayment related to LNG reloading revenue for 2019, which together amount to EUR 2.4 million in January-November 2021.

The preliminary revenue of the Company’s commercial LNG activity for November 2021 comprises EUR 0.2 million and is at the same level compared to November of 2020. The preliminary revenue of the Company’s commercial LNG activity for the first eleven months of 2021 comprises EUR 2.2 million and is lower by 12 % compared to the same period of 2020.

Total preliminary revenue of the Company for January-November 2021 amounts to EUR 53.4 million and is lower by 24.9 % compared to the same period of 2020 – EUR 71.1 million.

Preliminary revenue of the Company, EUR million:

November

January - November

2021

2020

Change

2021

2020

Change

Oil terminals activity

1.9

2.3

-17.4%

19.2

28.9

-33.6%

LNG terminal activity

2.7

3.5

-22.9%

32.0

39.7

-19.4%

Commercial LNG activity

0.2

0.2

0%

2.2

2.5

-12.0%

Total

4.8

6.0

-20.0%

53.4

71.1

-24.9%

*Note: Only preliminary information of the Company is presented, preliminary revenue of subsidiaries is not included. Consolidated financial results of the Group are presented in the interim financial statements.


Mindaugas Kvekšas, Chief Financial Officer, +370 46 391772