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2 clusters · 2 sources · 13 days · First seen · Last updated

Lithuanian energy sector financial performance

Overview

Lithuanian energy infrastructure operators reported strong financial growth during the first half of the year.

Electricity transmission operator Litgrid reversed a previous year’s loss to post a €39 million net profit, with revenue increasing by 28%. This growth was supported by higher transmission fees and increased income from imbalance-balancing. The company also invested €61 million in grid expansion projects, including the “Harmony Link” connection with Poland.

Similarly, KN Energies reported a 60% increase in net profit, reaching €13.8 million. This performance was largely driven by the Klaipėda LNG terminal, which saw a 30% increase in regasification and handling volumes. The terminal reached an 86% utilization rate, securing long-term capacity allocations for clients including Ukraine’s Naftogaz and Finland’s Gasum.

Entities

Klaipėda LNG Terminal · Andrius Šemeškevičius · Litgrid · Harmony Link · Naftogaz

Timeline

  1. 23 days ago

    [BUSINESS] 2 sources
    KN Energies reports 60% profit increase driven by LNG terminal growth

    KN Energies reported a 60% rise in net profit to 13.8 million euros for H1, driven by a 30% surge in LNG terminal activity in Klaipėda and new long-term capacity agreements with Naftogaz and Gasum.

  2. about 1 month ago

    [BUSINESS] 2 sources
    Lithuania's Litgrid posts €39 million H1 profit as revenue climbs 28%

    Litgrid posted a €39 million H1 profit and 28 % revenue growth, while Amber Grid earned €16.3 million adjusted profit, with both firms expanding grid projects such as the Harmony Link.

Sources

ve.lt · vz.lt