Lithuanian LNG operator Klaipėdos Nafta (KN) and the German shipping company Nauticor have agreed on the sale of KN’s 10% stake in the charter contract of Kairos, the world’s largest LNG bunkering vessel to Nauticor. As a consequence of this transaction, Nauticor will become sole charterer of Kairos.
World’s largest LNG bunker supply vessel Kairos started operations in December 2018. The vessel is owned by Babcock Schulte Energy and chartered by Blue LNG, a joint venture between Nauticor (90%) and KN (10%).
The joint venture partners decided to sell transfer KN’s share in Blue LNG to Nauticor. The transfer shall become effective as of September 30th, 2019.
In the Port of Klaipėda, the 117-meter-long vessel, which can carry up to 7.5 thousand m3 of LNG in its two tanks, is used for reloading of LNG from Klaipėda terminal to the LNG Reloading Station situated next to the gates of the port of Klaipėda.
Several years ago, when the agreement on partnership to charter the vessel Kairos was concluded, there was a lack of LNG transportation services in the market, according to Mindaugas Jusius, CEO of KN.
The head of KN estimates that there are 7 vessels currently providing LNG transportation services in region of the Baltic and Northern Seas, and there are two more vessels under construction that are planned to be launched before the middle of this year.
The emergence of new LNG transportation and bunker vessels enhances the competitiveness and accessibility of the LNG market for the region. This assures more favourable conditions for our company to utilise the LNG infrastructure in Klaipėda in a more efficient way. The possibility to bunker LNG-powered vessels from the LNG Reloading Station and loading small-scale cargoes to vessels and semitrailers assures the extensive LNG supply chain across the whole region thus creating added value for Lithuania,
…says Mr. Jusius.
