KN Energies reports 60% profit increase driven by LNG terminal growth

KN Energies reported a significant increase in financial performance for the first half of the year. The group's revenue rose 14% to 58.1 million euros, while EBITDA grew 15% to 31.1 million euros. Net profit saw a substantial 60% increase, reaching 13.8 million euros.

A primary driver of this growth was the activity at the Klaipėda LNG terminal. Regas (liquefied natural gas) regasification and handling volumes reached 20.9 TWh, a 30% increase compared to the same period last year. The terminal's utilization rate reached 86%, significantly exceeding the European average. Long-term stability was bolstered by capacity allocations for the 2033–2044 period, with new clients Naftogaz from Ukraine and Gasum from Finland joining the existing customer base.

In the liquid energy products segment, handling volumes rose 9% to approximately 2 million tons, supported by increased diesel fuel handling and cooperation with ORLEN Lietuva. The company also expanded its service portfolio by starting gasoline blending operations and handling its first commercial methanol cargo. Internationally, KN Energies is involved in projects in Germany and Brazil, and serves as a consultant for an FSRU project in Poland.