Klaipeda Nafta Sells Stake in Blue LNG

Lithuania's Klaipedos Nafta (KN), operator of the LNG terminal at Klaipeda, has now sold its 10% stake in Blue LNG, the charterer of the Kairos, the world's largest LNG bunker supply vessel, to Hamburg-based Nauticor, a unit of Linde. Nauticor is now the sole owner.

The ship, which can carry up to 7,000 m³ of LNG in its two tanks, was employed for reloading LNG from Klaipedos Nafta's floating FSRU Independence into its onshore LNG reloading station.

Arunas Molis, head of LNG at Klaipedos Nafta, told Lithuanian press the situation in the market has changed over recent years. “In recent years, new LNG transportation capacities and at least several LNG transport and bunkering vessels have emerged in the region... This allows us to ensure the LNG supply chain for our customers by using vessels providing LNG transport services in the region,” he said.

According to Molis, the Kairos will be able to continue providing services in Klaipeda in the future if such necessity arises. Nauticor said that the purpose of the transaction will allow both parties to optimize their core operations.

The Cyprus-flagged 117-metre vessel Kairos first docked in Klaipeda in early January. Kairos is owned by Babcock Schulte Energy. Klaipedos Nafta and Nauticor chartered the vessel through the joint venture Blue LNG, of which Nauticor, up until the agreement, had a 90% share and Klaipedos Nafta had 10%.

The LNG terminal in Klaipeda has so far had an efficient year, KN said. During the first eight months, a total of 10.2 TWh, or 70% more gas was regasified and reloaded than during the same period last year. By August, the volume of regasification at the LNG terminal had significantly exceeded the targets set by the company at the beginning of the year.