AB Klaipėdos nafta (further the Company) reviewed operating segments since the beginning of the second quarter of 2020 and presents revenue disclosures accordingly. The following operating segments of the Company are:
- Oil terminals activity, that includes Klaipėda oil terminal and Subačius oil terminal,
- Regulated Klaipėda
LNG Terminal activity and - Commercial LNG activity, that includes small-scale LNG reloading station in Klaipėda and international Business development projects.
The preliminary sales revenue of the Company’s oil terminals for the
The preliminary sales revenue of the Company’s Klaipėda LNG terminal for
The preliminary sales revenue of the Company’s Commercial LNG activity for the
Total preliminary sales revenue of the Company for the January-
Preliminary revenue of the Company, EUR million:
December | January - December | |||||
2020 | 2019 | Change | 2020 | 2019 | Change | |
Oil terminals activity | 2.5 | 3.5 | -28.6% | 31.3 | 33.0 | -5.2% |
LNG terminal activity | 3.6 | 5.9 | -39.0% | 43.4 | 70.9 | -38.8% |
Commercial LNG activity | 0.2 | 0.0 | 100.0% | 2.7 | 0.2 | 13.5 times |
Total | 6.3 | 9.4 | -33.0% | 77.4 | 104.1 | -25.6% |
Comment by the management of the Company:
The significant factor, which has influenced the total Company‘s revenue result in January-December, 2020, is lower revenue of Klaipėda LNG terminal, following from the KN decisions, adopted in 2019, to optimize infrastructure costs of Klaipėda LNG terminal and reduce LNG security supplement for consumers of Lithuania, starting from 2020. Due to the implementation of this decision, KN revenue for the twelve months period of 2020 is lower by
In 2020, KN’s oil business was affected by oil refining margins still at historic lows, geopolitical circumstances, as well as the global coronavirus pandemic, which has reduced demand for oil products worldwide and put restrictions on operation of oil refineries. Although demand for oil products has shown slight signs of recovery at the global level, the ongoing pandemic prevented faster recovery in demand for oil products in late 2020 or at the beginning of 2021. Taking into account the low oil refining margins and the lower demand for oil products due to the quarantine restrictions applied in the world, all major KN customers in
Jonas Lenkšas, Chief Financial Officer, +370 694 80594.
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