• 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).




2018 November 20

18:21 Igor Levitin suggests separating positions of Deputy Transport Minister and head of Rosmorrechflot
18:06 MAN Energy Solutions wins order to supply the engine for a new dredger in southern China
17:53 Workshop aimed at building oil pollution preparedness and response capacity held in the Republic of Guinea
17:36 “K” Line announces delivery of new LPG carrier for Gyxis Corporation
17:18 Atomflot: first delivery of fish by NSR expected in summer-autumn season of 2019
17:04 Diana Shipping announces time charter contract for m/v Sideris GS with Berge Bulk
16:47 Rashid Sharipov as Chairman of the Board of Directors NCSP BoD
16:25 NIBULON Shipbuilding and Repair Yard launched second POSS-115 Project tug
16:04 OOCL announces improvements to Asia – Middle East 1 and Asia – Middle East 3
15:50 Storage area line launched at Vostochny Port’s Phase 3
15:34 New overpass at Maasvlakte 2 opens
15:03 Port of Oakland works to reduce impact of trucks
14:33 The port of Marseille Fos is engaged in reducing shipemissions by developing LNG as a marine fuel
14:03 Teesport Intermodal Rail Terminal celebrates fourth anniversary
13:43 12th Transport of Russia Forum and Exhibition opens in Moscow
13:10 Damen signs with Rimorchiatori Spezzini for two new Damen ASD Tugs 2411
13:02 Bunker prices are going down in the Far East ports of Russia (graph)
12:38 CCCC Dredging supports the 6th Forum of Dredging Companies as its Sponsor
11:54 Concession agreement signed for construction of coal terminal “Lavna”
11:30 OOCL introduces the new West Africa Service 2
10:45 Major ASW ship Severomorsk of RF Navy's Northern Fleet escorts Indian civilian vessel in the Gulf of Aden
10:23 Russian Railways’ BoD makes decision on discounts for cargo transportation in 2019
10:00 Brent Crude futures price down 0.39% to $66.53, Light Sweet Crude – down 0.24% to $57.06
09:19 Baltic Dry Index is down to 1,023 points
08:51 Valenciaport container vilume increased by 4.78% in the last twelve months
07:51 Klaveness Combination Carriers declares option for sixth combination carrier newbuild

2018 November 19

18:37 IMO holds workshop boosting maritime security in Gulf of Guinea
18:05 MOL conducts tabletop drill for LNG carrier
17:49 Hapag-Lloyd to start new Asia – Gulf Service (AGS)
17:43 Busan Port Authority signs Letter of Intent for the Maasvlakte Distribution Park West
17:01 Ocean Network Express expands the partnership of Asia - South America
16:32 BIMCO standard ship repair contracts overhauled
16:05 Port of Hamburg railborne container transport up 4.3 percent in the first nine months of 2018
15:44 FESCO and DB Cargo plan to launch joint transit shipments from China to Europe via Kaliningrad
15:10 Costamare announces the acquisition of the York Capital majority interest in five 14,000 TEU containerships
14:56 Half a billion tones of Kazakhstan oil lifted from CPC Marine Terminal
14:47 Saipem 7000 semi-submersible at Damen Verolme Rotterdam for DPS upgrade
14:33 OpenRisk launches guideline for risk management at sea to improve response to accidental spills
13:59 NCSP Group's consolidated cargo turnover for January-September totaled 105,253 thousand tons
13:11 Average wholesale prices for М-100 HFO down to RUB 19,660 in RF spot market
12:47 ABP invests over £1 million on a rooftop solar project at the Port of Goole
12:18 Damen supports 2nd Dredging and Hydraulic Engineering Structures Congress as its General Sponsor
12:00 The Fjords plans to add another all electric passenger vessel to its fleet
11:36 TOTE Services' Philip Greene Jr. retires next year
11:02 Damen Shipyards Group celebrates Multraship Carrousel RAVE Tug winning KNVTS Ship of the Year Award
10:44 Port of Oakland cargo volume up 3.9 percent in August - October 2018
10:43 Throughput of Port Vysotsky up 9.4% to 6.34 million tonnes in 10M’18
10:19 Brent Crude futures price up 0.69% to $67.22, Light Sweet Crude – up 1.02% to $57.26
09:57 Media Group PortNews issues special edition of its magazine for Transport Week 2018
09:35 Rosmorrechflot reduced operation period of locks in Volga-Don Basin
09:18 Baltic Dry Index is up to 1,031 points

2018 November 18

16:21 Wellington ferry skipper fined $1,688 after grounding
15:04 SFL continues its fleet renewal programme, to sell its 2002-built VLCC
14:37 Austal delivers Expeditionary Fast Transport ship USNS Burlington to U.S. Navy
14:26 Lockheed Martin gets $282M contract mod for four MMSCs project
14:13 Ulstein Verft starts construction of largest hybrid ship for Color Line
13:41 Klaveness extends contract of affreightment with South32 Marketing Pte Ltd
12:06 PaxOcean wins three newbuilding contracts from Royal IHC

2018 November 17

18:29 Sanmar delivers Robert Allan-designed new tractor tug Svitzer Meridian
18:02 MSC launches train between Giengen and Trieste