Additional information to the summary of AB „Klaipėdos nafta“ webinar
June 15 2023 - 7:51AM
Additional information to the summary of AB „Klaipėdos nafta“
webinar
Responses to the questions which
remained unanswered during the webinar are provided.On
the 14nd of June 2023, AB Klaipedos nafta (KN) held an
investor conference webinar (webinar), where KN Chief
Executive Officer Darius Šilenskis, Chief Financial Officer
Mindaugas Kvekšas and Chief Commercial Officer Mindaugas Navikas
presented KN‘s corporate strategy for the period 2023-2050 Summary
of AB Klaipedos nafta webinar (nasdaq.com).
Webinar recording is available online
at: https://youtu.be/xnvgIlxymNc
KN is providing answers to the submitted
questions, which remained unanswered during the webinar (the
original questions' language remains unaltered):
The previous strategy had a goal of
becoming a shareholder of several other LNG terminals, is that
still in the picture or such goal is not in the picture
anymore
As it was mentioned during the webinar, by 2030
KN intends to expand floating LNG footprint in global markets,
targeting 1-2 new investment opportunities and 3 additional
O&M contracts.
Are you worried that shaky ESG
credentials of biofuels potentially could force the change in
regulatory environment and thus undermine a part of your
strategy?
The biofuels market is growing due to stricter
regulations and increasing global demand. Fuel industry must
prioritize the most sustainable types of biofuels to comply with
regulations. As well, KN's clients trade worldwide, which means
they need to adopt to the diversity of global biofuels market – as
the credentials differ by markets or regions.
Does KN have made specific big amount
investment decision during 2023 - 2024 term except already
mentioned Independence ship?A few more significant
investments are at different stages of evaluation; however, as of
this date investments decisions have not yet been taken.
Do you believe/plan that the
"Independence" will be retrofitted for Hydrogen after LNG is no
longer needed?The physical properties of hydrogen and LNG
differ significantly, making it impossible to convert an FSRU
(Floating Storage Regasification Unit) to handle hydrogen. The LNG
terminal could be adapted to future energy needs for
importing/exporting hydrogen or H2 carriers. However, this would
require significant changes to the natural gas infrastructure.***KN
strategy document is published here.
Mindaugas Kvekšas, Chief Financial Officer, +370 46 391772
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