• 2018 October 19 15:20

    Seimas members visiting Klaipėda discussed benefits provided by LNG terminal

    On Wednesday, a group of members of the Seimas from the Seimas Committee on Economy, Committee on Environment and the Commission on Energy visited the liquefied natural gas (LNG) terminal “Independence” in Klaipėda, KN says in a press release. During the meeting, the politicians and the Minister of Energy Žygimantas Vaičiūnas as well as the CEO of KN Mindaugas Jusius discussed the issue of assurance of long-term LNG supply import and discussed the implementation of the economically most advantageous solution.
     
    According to KN calculations, since the launch of the operation of the LNG terminal in Klaipėda in 2014, the amount of funds saved by Lithuanian residents due to decreasing prices on gas reached EUR 103 million. This means that over 3.5 years every resident saved EUR 37, and a family of four – EUR 148.
     
    The calculations of KN analysts are based on the prices for natural gas paid by residents valid in 2014 before the launch of “Independence”. The calculations were performed based on the precondition that over those 3.5 years residents consumed the amount of gas, which is planned to be consumed in 2018.
     
    The price of natural gas for residents, who use gas for cooking, decreased by 18 euro cents by this year (in the first half of 2014 – EUR 0.77/m3, in 2018 – EUR 0.59 / m3). 
     
    The prices of gas for those who use gas for cooking and heating decreased by 15 euro cents (in the first half year of 2014 – 0.54 EUR/m3, in 2018 – EUR 0.39/m3). Therefore, the current price Lithuanian residents pay for gas is one of the lowest in Europe.
     
    Mindaugas Jusius, KN CEO, notes that four years ago the gas price for Lithuanian residents was a quarter higher, since before the LNG terminal was opened in December 2014, Lithuania could purchase gas only from one supplier – Russian concern “Gazprom”, and pay the highest European price for its gas. For example, the average import price Lithuania paid in the first half of the 2014 was EUR 29.84 / MWh, when the average price in the NBP exchange of the Great Britain amounted to EUR 24.07/MWh.
     
    Now, when Lithuania has access to any seller of gas in the world, it pays considerably lower prices for gas than before the launch of the LNG terminal.
     
    “The critics of the terminal usually claim that prices on gas in Lithuania have reduced due to a decrease in global prices on gas. This is not true. If the decrease in the price was determined by the global tendency, the price would decrease in a similar manner across the world. But it is not the case. The gas price in the NBP exchange, if compared to the price existing four years ago, has decreased by 15%, and in Lithuania it has decreased – 31%,” Mindaugas Jusius explained. 

    The prices of the gas imported to Lithuania has decreased from EUR 29.84 / MWh (the average price in the first half of 2014) to EUR 20.60 / MWh (first half of 2018), and in NBP exchange – from EUR 24.07 / MWh (first half of 2014) to EUR 20.49 / MWH (first half of 2018).




2019 April 24

18:15 Cryogas-Vysotsk kicks off full-scale LNG production
18:11 Jiangsu Zhenjiang Shipyard holds steel-cutting for four ASD tugs ordered for Liaoning Longyun Shunze Tug Ltd.
18:07 COSCO SHIPPING Heavy Industry in Yangzhou holds naming ceremony for 400K DWT VLOC
17:30 Final caisson installed for Tuas Terminal Phase 1
17:07 Klaveness Combination Carriers ASA concludes the first contract of affreightment for its CLEANBU fleet
17:05 Oceaneering takes delivery of the advanced subsea construction support vessel
16:37 COSCO SHIPPING signs a strategic cooperation agreement with Yangzhou
16:34 MOL co-own world 6 largest Liquified Ethan Carrier with Reliance
16:26 Port of Vysotsk three-month cargo throughput rose 12% to 5 million tonnes
16:05 Tanjung Bruas Port expands its services to container ships
15:46 HMM to expand cooperation with FESCO
14:41 Primorsk oil port’s throughput rose 5% in Jan-Mar to 14 million tonnes
14:29 Rosmorport picks Oil Terminal Lavna to provide berths for its ships docking in Murmansk
13:42 Ust-Luga Port’s three-month volume up 8% to more than 26 million tonnes
13:35 Port of St.-Petersburg Q1 cargo volumes rise 3% to 14.26 million tonnes
13:22 FPU Akademik Lomonosov completed trials of nuclear power plant
13:03 Russian Gov’t released orders on the purchase of domestically-produced equipment for transport infrastructure expansion programme
12:47 VDB to develop design of an 18MW icebreaker for Rosmorport
11:18 Daltransugol terminal reaches 150-millionth-tonne milestone since the facility commissioning
10:11 Crude oil futures edge down to $ 74,16 (Brent) and to $ 65,95 (WTI)
10:07 Global Ship Lease announces new long-term charter agreement with Maersk Line
10:03 Baltic Dry Index gains 31 pts to 821 points
09:07 Long Beach Harbor Commission approves new Strategic Plan
09:03 Bunker Market this morning 24th April
08:07 GTT receives a new order from Hyundai Samho Heavy Industries to design the tanks of an LNG Carrier for NYK
07:37 CMA CGM to apply GRI for frozen seafood and snow crab exports from Canada East Coast to worldwide destinations (excluding Africa, EEA, Russia and USA)

2019 April 23

18:24 Russia’s inland waterways Moscow basin ready to open for navigation as of April 24
18:16 NOVATEK’s AGM approves 2018 dividends
17:36 ABS, Google Cloud and SoftServe Partner to demonstrate feasibility of AI-enabled corrosion detection on ships and offshore structures
17:10 NOVATEK elects new board of directors
17:06 Fincantieri acquires control of Insis
16:47 President Vladimir Putin takes part in keel-laying ceremony for frigate duo at Severnaya Verft in St. Petersburg
16:40 SITC holds naming & delivery ceremony for M/V “SITC SHIDAO”
15:08 Kozmino Oil Port conducts the OSR drills
14:12 Zelenodolsk Shipyard to authenticate keel of 10th Grachonok-class counter-sabotage boat
13:31 Far Eastern ports see bunker price mixed movements
13:04 NSCP BoD vote to pull out of Novorossiysk Grain Terminal
13:02 RoRo MV joins Wallenius Wilhelmsen’s fleet
12:26 MABUX: Bunker Market this morning 23rd April
12:18 Nizhny Novgorod water development project task team eases most of environmental concerns
12:15 Wallenius and Swedish Orient Line form new Swedish shipping company – WALLENIUS SOL
11:24 Crude oil futures gain to $ 74,31 (Brent) and to $ 65,87 (WTI)
10:53 Albwardy Damen receives MASTECH award for the new Damen Multibuster 8020
10:51 RZD president slams proposal to ban the rail transport discounts during inland navigation period
10:08 RSPP to submit to Russian Gov’t water transport development proposals after May 22
09:27 Qatar Petroleum initiates LNG ship construction program for 100+ new LNG carriers
09:16 Port of St. Petersburg joins the city-wide subbontik
08:23 North Carolina Ports welcomes first 12,000 TEU vessel

2019 April 22

18:29 President Vladimir Putin to kick off loading of an LNG cargo to Coral Anthelia in Vysotsk, April 24
18:04 Bahri explores maritime opportunities in Africa at Logismed
16:57 Federation Council approves the crab fishing quotas bill
14:45 Newspaper of Sea Port of St. Petersburg receives Best Corporate Edition 2018 Award
14:27 MOL to install AR navigation system on 21 VLCCs
14:26 Spot market price for Russian M100 product ended week lower at an average of RUB 19,431 pmt
13:07 Nobel Bros Shipyard re-launches refurbished pusher OTA-953
13:01 Seadrill Partners LLC receives early termination notice for the West Capricorn contract
12:06 Rosmorport invites to submit proposals for LS marine fuel supply at Sakhalin based Port of Shakhtersk
12:00 BP and partners sanction $6 billion Azeri Central East development offshore Azerbaijan
11:10 Int’l Neva 2019 Expo to present the hall of small crafts building achievements
11:00 Saudi Aramco to acquire Shell’s share of the SASREF refining joint venture