Lithuania’s KN offers Klaipeda FSRU regas slots

Lithuania’s KN is offering regasification capacity for two spot LNG cargoes in November and December at the 170,000-cbm FSRU Independence in Klaipeda.

The state-owned firm started accepting requests for the capacity allocation on September 1.

“With this announcement the operator is keen to allocate capacities, which each cargo corresponds of one conventional size cargo, scheduled on November 30–December 1, 2023 and December 20-21, 2023,” KN said in a statement.

KN said it will accept requests until October 1, or until it receives the “first dully submitted request for spot cargo capacity.”

Customers from Lithuania, Latvia, Poland, and Estonia

Last year, KN exercised its option to buy the FSRU Independence for $153.5 million, excluding VAT, from Hoegh LNG at the end of its current lease deal in 2024.

The FSRU has a regas capacity of 3.75 bcm but there are plans to boost the capacity up to 6.25 bcm due to very high demand as European and the Baltic countries look to replace Russian gas pipeline supplies and boost energy security.

In July, KN said that four firms won capacity rights at the FSRU Independence in Klaipeda after the completion of the 2024 capacity allocation procedure.

According to KN, the LNG terminal’s 6 terawatt-hour (TWh) regasification capacity for the 2024 gas year has been allocated to four customers from Lithuania and Estonia.

In 2024, KN expects that the FSRU will receive 34 conventional LNG cargoes during the period and regasify a total of about 34 TWh of natural gas.

Customers from Lithuania, Latvia, and Poland, which booked long-term LNG terminal capacity last year, will receive most of the natural gas, or 24 TWh, KN said.

Poland’s PGNiG and Latvia’s Latvenergo previously each secured 6 TWh of regasification capacity for a period of ten years at the FSRU-based facility.

KN also said it plans to allocate a further 4 TWh of capacity from the spot market over the next year.

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