Klaipeda Nafta Quits Blue LNG JV

Klaipedos Nafta (KN) has transferred its 10% stake in the charter contract of Kairos, the world’s largest LNG bunker supply vessel, to its other partner in the Blue LNG joint-venture, Nauticor. With effect from September 1, Nauticor will be the sole charterer, it said April 30.

Kairos started operations in Q4 last year and was chartered by Blue LNG, a joint venture between Nauticor (90%) and Klaipedos Nafta (10%). At the end of March 2019, Nauticor executed an option to acquire KN’s share in Blue LNG.

Nauticor uses Kairos to supply marine customers with LNG as a fuel and within the first months of operations, customers from the container, the tanker and the ferry segment have all been supplied with LNG via ship-to-ship bunkering and demand is growing.

Kairos is also used for the reloading of LNG from the Lithuanian import terminal to the LNG reloading station next to the Klaipeda port, meaning it is a frequent caller.

Nauticor CEO Mahinde Abeynaike said that having full control over Kairos means it can deploy the vessel at the LNG bunkering “hotspots” without having the obligation to deviate to Klaipeda on a regular basis. Hence we will be able to fully focus on our customers’ scheduling requirements. We are looking forward to working closely with KN also in the future to further strengthen the Baltic Sea LNG small scale supply infrastructure.”

KN CEO Mindaugas Jusius said that the partnership has outlived its purpose and there are now other ways that KN can secure bunkering for its customers.