Klaipedos Nafta : end year on growing results

2016-01-25

Cat: Business information

In December last year SC Klaipedos Nafta's cargo handling grew by almost 9 percent and throughout 2015 annual cargo turnover increased by more than 15 percent. Such results were mainly caused by company's new transshipment contracts and oil producers' favorable global margins.

According to preliminary AB Klaipedos Nafta transshipment results, in December the company handled over 697 thousand tons of oil products, e.g. 8,9 percent more than in December 2014, when 640 thousand tons were handled. During all of last year's 12 months the company's terminals handled totally 6,461 million tons oil products which is even 15,6 percent more than in 2014. Last time company's cargo turnover exceeded 6 million tons in 2012.

In 2015 SC Klaipedos Nafta cargo turnover growth mainly contributed to a major customer Orlen Lietuva and transit cargo exporters.

Cargo growth resulted in increased revenue - during 2015 totally it reached 107,8 million EUR, of which 68 million EUR consists of income from the liquefied natural gas (LNG) terminal activities regulated by the state. Those revenues cover LNG terminal costs.

'The past year was full of challenges for the company, both on the global oil market uncertainty, as well as for the resulting new activities - LNG terminal operation and achieving more efficient use of its infrastructure. The company has been making efforts to optimally utilize LNG terminal capacity. Speaking of oil terminal, the main achievement is increased transit of Belarusian goods. Company's main client's SC Orlen Lietuva production volumes and turnover rates had a positive effect in December and 2015 as well. We are satisfied with the work of the LNG terminal, which was perfectly smooth and functioned as an alternative source of gas supply'- sums up the results Mantas Bartuška, CEO of SC Klaipedos Nafta.

In December LNG terminal regasified and supplied 188 thousand MWh of natural gas to the transmission system, and during the past year - totally 4559 thousand MWh.

'This year's main goals remain the same as last year - to distribute oil terminal capacity so that we are open and flexible for the existing clients and we can expand optimally according to the demand. In terms of investment, we are planning to expand light oil products handling capacities and to continue LNG distribution station construction; this is the cornerstone of this year's development basis, '- emphasizes Mr.Bartuška.