Today, the National Energy Regulatory Council (NERC) approved amendments to the Rules for the Use of the Klaipėda Liquefied Natural Gas (LNG) Terminal operated by KN Energies. These amendments establish the conditions for long-term capacity allocation and the conclusion of long-term contracts until 2044. The changes also introduce an auction-based capacity allocation procedure.
The approved amendments set out the procedure for allocating long-term LNG regasification capacitiy for the period 2033–2044. During this period, 28 TWh of capacity will be allocated, divided into seven equal capacity bundles of 4 TWh per LNG year.
According to Karolis Januševičius, Member of NERC, these amendments represent an important change in the LNG terminal capacity allocation system.
“These amendments introduce a structured long-term capacity allocation mechanism based on a premium auction within the LNG Terminal Rules. They also establish clear conditions for contracts that may remain in force until 2044. Importantly, the new mechanism balances access between priority users and free market participants," said K. Januševičius.
The NERC Board member also emphasized that these decisions are particularly important given that the terminal is used by market participants from several Baltic region countries, while geopolitical tensions in gas markets remain present.
