AB „Klaipedos Nafta“ initiated an amendment to the Regulations for Use of the Liquefied Natural Gas Terminal
AB „Klaipedos Nafta“ says it has presented to the National Commission for Energy Control and Prices (the NCC) a new edition of the Regulations for Use of the Liquefied Natural Gas Terminal (the Terminal rules), which were adjusted taking into consideration comments and recommendations of the potential LNG terminal users.
During the first year of operation of the LNG terminal the Company has received inquiries from potential LNG market participants on the possibility to store standard size LNG cargos for longer periods and to break-bulk them by carrying out small-scale LNG reloading from LNG FSRU “Independence”. For this reason, the Company initiated the amendment to the Terminal rules.
"The existing Terminal rules are in line with the best European practice and experience of the leading terminal operators. They anchor so-called the Third Party Access regime, which is common in the European Union. This means that according to the order set in the Terminal rules gas suppliers can reserve LNG regasification and LNG reloading capacities, and supply gas to the customers in Lithuania and other countries. However, the document was amended in order to respond timely to the market needs and to ensure terminal’s flexibility as well as utilization of the terminal capacity at maximum level - taking into account the perspectives of newly emerging LNG small-scale business in the Baltic region and service needs expressed by the market participants,” – commented on the amendment of the Terminal rules CEO of AB Klaipedos Nafta” Mr. Mantas Bartuska.
The amended Terminal rules create a possibility for market participants to store LNG temporary for a longer period – up to one year in the LNG terminal. Also, responsibilities of the LNG terminal users were adjusted in the Terminal rules, the procedure of the LNG terminal was elaborated and some technical corrections were carried out.
Mr. M. Bartuska noted that amended Terminal rules will provide the possibility to use LNG terminal capacities for small scale LNG users as well. The emergence of these activities for new users will enable to reduce the infrastructure costs of the LNG terminal.
The new edition of the Terminal rules anchors the LNG terminal business model based on Third Party Access. LNG terminal in Klaipeda is the first and the only FSRU LNG terminal acting under Third Party Access and having more than one client.
According to Mr. M. Bartuska, it is expected that the public consultation process with market participants and the NCC will be announced in the near future – the market consultation on the new edition of the Terminal rules will start after the new edition of the rules will be published on the NCC website.
The Republic of Lithuania owns 72,32 percent of SC “Klaipedos Nafta” shares.
