The Supervisory Council of AB KN Energies, an international energy terminal operator, has appointed Gediminas Almantas as a new independent member of the company’s Board. He will assume his position on April 11, 2025, and serve until the end of the current Board’s term.   Almantas will replace Edvinas Katilius, who stepped down as an independent Board member at the end of 2024. He will become the fifth member of the KN Energies Board.   Selected through a public recruitment process, Almantas is an expert in strategic management, organizational transformation, and infrastructure development. He brings over two decades of diverse professional experience across the aviation, transportation, energy, and non-profit sectors.   Almantas holds a degree in aviation law and is the former CEO of Lithuanian Airports (LTOU). He has also served as a sustainability advisor at Copenhagen Airports and was a Board member of the Airports Council International (ACI Europe) in Brussels. In addition, he has held Board roles in several Lithuanian organizations, including EPSO-G, Oro Navigacija (Air Navigation), and the Lithuanian Red Cross. Currently, he chairs the Boards of AB Novaturas, LTG Infra, and Lithuanian Airports.   “On behalf of the Supervisory Council, I extend a warm welcome to Mr. Almantas as he joins the KN Energies Board. We are confident that his expertise in strategic management, organizational transformation, and sustainability, combined with his deep understanding of the Baltic region’s market and infrastructure, will bring significant value as the company continues to develop both in Lithuania and on the international stage. His competencies will further strengthen the Board at a critical time, as the company moves forward with its energy transition, implements its long-term strategy, and pursues a sustainable shift away from fossil fuels toward new forms of energy”, said Robertas Vyšniauskas, Chairman of the Supervisory Council.   On the Board, Almantas will focus on strategic management, change, and organizational transformation.   “I am very pleased to have the opportunity to join a company of such maturity and strategic importance to the state. The challenges of the energy transition in the current geopolitical context, amid sanctions and trade disputes, are significant, but the company’s strategic direction remains clear. I hope to contribute to the achievement of the company’s goals with all my experience and efforts,” said Gediminas Almantas.   The KN Energies Board, which began its four-year term in April 2022, includes independent professionals in energy, finance, and management: Jūratė Lingienė, Guy Mason, and Alfonso Morriello, as well as Karolis Švaikauskas, a representative delegated by the Ministry of Energy. Since November 2024, Jūratė Lingienė has been serving as the Chair of the Board.

Klaipėda LNG terminal operator, SC KN Energies (hereinafter referred to as the Company), informs natural gas market participants about the planned allocation of SPOT LNG cargo capacity of the LNG terminal under the conditions specified below.  Taking into account the provisions of the approved Regulations, the Company informs about the planned announcement of the invitation to submit applications for the acquisition of LNG Terminal spot cargo capacities: Size of spot cargo:  1,000,000,000 kWh ± 5%. Requests for different size of cargo are considered, however the priority is given to Conventional size of cargo.* SPOT cargo LNG regasification capacity usage period and cargo delivery window: LNG regasification period from 3rd of July 2025 to 13th of August 2025. Cargo delivery window: 25-26th of July, 2025. If required, the Operator may assess the possibility of reviewing LNG regasification period or cargo delivery date. The opening date and time for request submissions is 7th of April 2025, 07:30 EEST. The closing date and time for request submissions is 30th of April 2025, 16:30 EEST. Preliminary regasification schedule   * Note. Spot cargo capacity is allocated in accordance with the terms specified in sections 77.1.2 and 77.1.3 of the Regulations.

The operator of the Klaipėda liquefied natural gas (LNG) terminal, KN Energies, marked a significant milestone in mid-March – since the start of operations, 500 ship-to-ship LNG transfer operations have been completed at the terminal. Symbolically, both the first cargo in 2014 and the milestone 500th LNG cargo belonged to the Lithuanian natural gas supplier Ignitis.   The 500th cargo arrived at the Klaipėda LNG terminal from the United States. LNG shipments from the U.S. have been delivered to Klaipėda since August 2017. Since then, Klaipėda has received a total of 78 American LNG cargoes.   "The 500th LNG transfer operation is an important achievement not only for the Klaipėda LNG terminal but also for the energy security of the entire region. This is the result of the joint efforts of all parties involved – the KN Energies team, which has been effectively planning and executing operations for a decade, the technical operator of the FSRU Independence, Hoegh LNG Klaipėda, and our terminal clients, including one of the largest, Ignitis. For ten years, the terminal has ensured a stable gas supply to the region, with zero safety incidents recorded during this period. I extend my thanks to everyone who has contributed and will continue to contribute to this success story and the adherence to the highest operational standards," said Mindaugas Navikas, Chief Commercial Officer of KN Energies.   Out of the 500 transfer operations, more than 100 were related to Ignitis activities. Symbolically, Ignitis was the client for both the first LNG cargo, which arrived in October 2014, and the 500th cargo delivered to Klaipėda on March 15. "A reliable partnership is especially important for our business, and we have been successfully nurturing it for many years with our strategic partner, KN Energies. This collaboration ensures a stable and efficient supply of LNG, allowing us to promptly respond to market changes and client needs. The terminal is a strategic link to the global market, enabling us to supply natural gas from any country in the world, thus ensuring supply flexibility and competitiveness," said Artūras Bortkevičius, CEO of Ignitis.   This year, 24 LNG transfer operations have been carried out in Klaipėda, with a total of 83 in 2024. Since the terminal's launch in October 2014, approximately 205 terawatt-hours (TWh) of LNG have been transferred. The majority originated from Norway (52%) and the United States (37%), but Klaipėda has also received LNG from countries like Nigeria, Trinidad and Tobago, Egypt, Algeria, and others. The terminal serves clients from five countries – Lithuania, Poland, Latvia, Norway, and Estonia.   The Klaipėda LNG terminal, consisting of the floating storage and regasification unit (FSRU) Independence, a jetty, and a connecting gas pipeline, was the first terminal of its kind in the Baltic region and across Northern Europe, and the second in Europe overall. Last December, KN Energies assumed ownership of the FSRU Independence, which was registered under the Lithuanian flag in the Register of Seagoing Ships of the Republic of Lithuania. The Law on Liquefied Natural Gas Terminal of the Republic of Lithuania mandates ensuring the terminal operations until 31 December, 2044.

The operator of the Klaipėda LNG terminal, AB KN Energies (hereinafter – the Company), having received a request from a terminal user regarding the planned non-use of LNG terminal regasification capacities for August–September, announces an invitation to acquire these capacities under the conditions specified below. Taking into account the terminal user's request, the Company invites to submit applications   for the acquisition of LNG terminal regasification capacities with the following cargo delivery date: Size of the cargo: 1,000,000,000 kWh ± 5%. Requests for different size of cargo are considered, however the priority is given to Conventional size of cargo.* LNG regasification capacity usage period and cargo delivery window: LNG regasification period from 26th of August 2025 to 30th of September 2025. Cargo delivery window: 29-30 of August, 2025. The opening date and time for request submissions is 13th of March 2025, 07:30 EET. The closing date and time for request submissions is 30th of April 2025, 16:30 EET. Preliminary regasification schedule * Note. Spot cargo capacity is allocated in accordance with the terms specified in sections 77.1.2 and 77.1.3 of the Regulations.

The strategic implementation of a long-term vision, the expansion of international LNG projects, and operational efficiency have contributed to KN Energies’ strong financial results in 2024. Despite market challenges, the company continued to increase its revenue and profit while strengthening its position both in Lithuania and internationally. According to unaudited data, the KN Energies group’s revenue grew by 12% in 2024, reaching EUR 93.7 million. EBITDA surged by 38% to EUR 49.3 million, while net profit increased by 16%, amounting to EUR 15.4 million. “Over the past five years, KN Energies’ financial results have fluctuated, but in 2023, the company returned to profitability and further strengthened its growth in 2024. This was driven by a consistent strategy focused on international expansion and operational efficiency.   We are experiencing a dynamic period – shifting toward new strategic goals, creating opportunities to handle a broader range of energy products, and leveraging our team’s experience and expertise to expand operations beyond Lithuania. All of this allows the company to successfully adapt to market changes and confidently increase its profitability,” says Darius Šilenskis, CEO of KN Energies.   Among the company’s key milestones in 2024, Šilenskis highlights the acquisition of the floating LNG storage and regasification unit (FSRU) Independence, its registration in the Register of Seagoing Ships of the Republic of Lithuania and securing contracts to operate four LNG terminals in Germany.   The purchase of the FSRU Independence involved one of the largest currency hedging transactions in the Lithuanian currency market, fixing the exchange rate. This decision resulted in savings of EUR 8.05 million for the company compared to the exchange rate on the transaction date.   Independence inspection did not hinder revenue growth   In May 2024, the FSRU Independence underwent a dry dock inspection and maintenance in Denmark. The vessel’s anti-corrosion coating was renewed, along with other periodic technical maintenance tasks.   Tomas Tumėnas, Chief Financial Officer of KN Energies, noted that the maintenance reduced the availability of the FSRU, leading to lower regasification volumes.   "In 2024, the Klaipėda LNG terminal regasified and reloaded 27.7 TWh of LNG, compared to 33.7 TWh in 2023. Despite this, revenue from the regulated LNG business segment increased by 14% to EUR 55.8 million last year, while EBITDA surged by 48% to EUR 33.7 million. This growth was primarily driven by revenue from reserved but unused terminal capacities," said Tumėnas.   In 2024, the Klaipėda LNG terminal served six customers from Lithuania, Latvia, Estonia, Norway, and Poland.   Due to the maintenance-related suspension of operations in May, the terminal’s average utilization rate for the year was slightly lower at 52%, though it remained above the European average of 45%.   Bitumen and biofuel handling volumes increased   According to Tumėnas, the operations of KN Energies’ liquid energy product terminals in Klaipėda and Subačius in 2024 were significantly influenced by the imbalance between supply and demand in the global and European liquid fuel markets. Due to reduced activity in major economies, Europe’s diesel demand remained lower than pre-pandemic levels.   The business environment was further challenged by excess oil refining capacity—as new refineries opened in Africa, Latin America, and China, the global refining industry faced a surge in surplus capacity, further slowing demand growth. Geopolitical factors, including the escalation of the Red Sea conflict, also had a significant impact on supply flows.   As a result, the handling volumes at the Klaipėda and Subačius liquid energy product terminals decreased by approximately 17% last year, amounting to 3.4 million tons. EBITDA declined by 13% to EUR 9 million.   Despite these challenges, revenue for this segment in 2024 remained at a similar level to 2023. This stability was driven by a steady customer base in Lithuania, growing demand for product storage services, and increased handling volumes of biofuels and bitumen.   “Bitumen handling volumes at the Klaipėda liquid energy product terminal grew approximately 1.7 times compared to 2023. Given the rising demand for bitumen transshipment on the eastern coast of the Baltic Sea, we are modernizing equipment and infrastructure dedicated to this product, aiming to attract even greater cargo volumes in 2025,” said the CFO of KN Energies.   In 2024, the company focused heavily on expanding the range of handled liquid energy products. It enhanced its biofuel transshipment capabilities by introducing a new cargo type — UCO (Used Cooking Oil). Currently, the Klaipėda terminal handles 16 different types of oil, chemical products, and biofuels, with plans to soon add sustainable aviation fuel (SAF) and methanol to its portfolio. Profit from commercial LNG segment increased fivefold   KN Energies' breakthrough in Germany, successful operations in Brazil, where the company operates the Açu LNG terminal, and the growth of small-scale LNG loading services in Klaipėda contributed to a record-high profit in the commercial LNG segment last year. Profit reached EUR 4.8 million — more than five times higher than in 2023 — while EBITDA surged by 159% to EUR 6.8 million.   In January 2024, the company became the commercial operator of four LNG terminals in the North Sea, Germany. Since May, it has also been providing technical operation and maintenance services for the second Wilhelmshaven LNG terminal.   Additionally, KN Energies' small-scale LNG loading volumes and related revenue grew significantly in 2024. Since April 2020, Polish energy company ORLEN has been utilizing the Klaipėda LNG reloading station in Melnragė. Last year, the strategic partnership agreement was extended for another five years, until 2030.   New Energies segment: a step toward a sustainable future   In 2024, KN Energies introduced a dedicated New Energies segment in its financial reports, reflecting the company’s efforts to expand into renewable energy sectors such as hydrogen and its carriers, energy storage, carbon dioxide (CO2) capture and transportation.   The company is actively monitoring market developments, assessing infrastructure needs, exploring new energy trends, and evaluating potential opportunities and its role in these emerging industries.   One of the most significant breakthroughs last year was in CO2 capture and transportation for permanent storage in the North Sea. In spring 2024, the European Commission granted the project, developed by KN Energies and its partners, the status of a Project of Common Interest (PCI). This grant means that the project is recognized as a key cross-border infrastructure project which will significantly contribute to the implementation of the energy policy and climate goals of the European Union (EU).