KN becomes commercial manager of four German LNG terminals

International energy terminal operator SC "Klaipedos nafta" (SC KN Energies starting 10th January 2024) (KN or the Company) has secured the public tender for the commercial management of four German liquefied Natural Gas (LNG) terminals on the North Sea coast. The Company has signed the two-year contract with Deutsche Energy Terminal GmbH (DET), the German state-owned company that operates state-controlled LNG terminals.

On behalf of the German Federal Ministry for Economic Affairs and Climate Action, the DET operates Germany's first LNG terminals on the North Sea coast, the Wilhelmshaven 1 LNG Terminal and the Brunsbüttel LNG Terminal. Additionally, DET will operate two upcoming terminals: the second LNG terminal in Wilhelmshaven and the LNG terminal in Stade on the Lower Elbe River.

The projected contract turnover may account for up to 5% of KN annual revenue. The Company anticipates that this agreement will play a pivotal role in advancing Company’s long-term strategic objectives and fostering growth within the commercial LNG segment.

For more information:
Vaidotas Dirmeikis,
Head of Finance department, acting CFO
Ph. +370 46 391 772