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Finance

Lithuania’s KN to support Snam for the commissioning of the Piombino LNG terminal

Oil and liquefied natural gas (LNG) terminals’ operator KN (Klaipėdos nafta) has been chosen by Italian energy company Snam FSRU Italia to cooperate in the start-up of a greenfield FSRU-based LNG terminal project in the port of Piombino.

KN, which has established a reputation as a professional and reliable LNG terminal operator and project developer, not only in Europe but also worldwide, will support Snam in the FSRU installation and subsequent commissioning and testing of the floating LNG terminal.

The new LNG terminal in Tuscany, in the province of Livorno and the west coast port of Piombino, is a strategic project to help ensure the country’s energy needs, increasing the security of supply and diversification.

The terminal design is based on the floating storage and regasification unit (FSRU), Golar Tundra, purchased by Snam FSRU Italia, with a capacity of 170,000 cubic metres and a nominal throughput of 5 billion cubic metres (bcm) of natural gas per year.

Darius Šilenskis, CEO of KN, noted that in the expanding LNG market there are growing opportunities for the company to get involved in international LNG projects.

“I am glad that KN is helping Europe to enhance its energy independence with its experience and knowledge,” he said. “Having done our homework in 2014 and ensured alternatives for the supply of natural gas to Lithuania, today being the main gas supply route to the Baltic region, we can get involved in the implementation of strategic projects of other European countries. We are starting this year with a great partnership with Snam FSRU for an equally strategic LNG terminal project. Undoubtedly, one of the most important achievements of the past year was the decision of the German energy giant Uniper to select KN to provide commercial operation services for Germany’s first floating LNG terminal in the port of Wilhelmshaven on the North Sea coast.”

According to him, the recent growth of LNG terminal construction projects in the market contributes to such success. Before the Russian invasion of Ukraine only six out of twenty-three potential LNG terminal projects in Europe were likely to be built. However, as the war continued – the number of such projects almost tripled to seventeen.

“We receive enquiries from such project developers, whether for advisory, operational or co-investment activities,” continued Mr Šilenskis. “Therefore, such an increase in the demand for LNG terminal development in Europe opens up even more opportunities for us to utilise our existing knowledge and competencies in the new international LNG projects, where we would be selected as consultants, operators or investors.”

To date, the company has contributed to more than ten different LNG projects around the world. Currently, KN operates LNG terminals in Lithuania and Brazil and provides commercial LNG terminal operator services in Germany.

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