CORRECTION: AB Klaipedos Nafta preliminary activity and revenue results for the November 2017

Klaipedos Nafta
Notification on material event

CORRECTION: AB Klaipėdos Nafta preliminary activity and revenue results for the November 2017

Corrected re-gasified and reloaded volume of the Liquefied Natural Gas (LNG) in the LNG terminal during November 2017 and during January-November 2017 (4th paragraph in the text and tables of transhipment and regasification volumes). These corrections do not affect preliminary revenues of the Company.

AB Klaipėdos Nafta preliminary activity and revenue results for the November 2017

During November 2017 in AB Klaipėdos nafta (hereinafter - the Company) reloaded 646 thousand tons of petroleum products into its storage tanks of Klaipėda and Subačius oil terminals, i.e. greater by 18.8 per cent compared to November 2016, when 544 thousand tons were reloaded.

During 11 months of 2017 the Company in total reloaded 6,342 thousand tons of petroleum products into its storage tanks or less by 6.2 per cent compared to the same period of 2016 when 6,758 thousand tons were reloaded.

Improved geopolitical situation and Company's ability to attract new clients and new oil products in the second half of 2017 enables the Company to get closer to the transhipment level of 2016 year.

In November 2017 in the Liquefied Natural Gas (LNG) terminal of the Company 527 thousand MWh of the natural gas were re-gasified and supplied to the natural gas transmission system, while in November 2016 - 911 thousand MWh. During the first eleven months of 2017 the Company in total re-gasified and reloaded 12,187 thousand MWh of the natural gas (during the same period of 2016 - 13,761 thousand MWh).

The preliminary sales revenues for November 2017 of Company's oil terminals' comprise EUR 3.5 million and are higher by 40.0 percent compared to the same period of 2016 (EUR 2.5 million). The preliminary sales revenues for January - November 2017 of the Company's oil terminals comprise EUR 33.7 million and are less by 1.7 per cent compared to the same period of 2016 (EUR 34.3 million).

The preliminary sales revenues of the Company's LNG Terminal for November 2017 comprise EUR 5.5 million (November 2016 - also EUR 5.5 million). These revenues comprise from the part of security supplement dedicated for compensation of LNG terminal exploitation expenses, as well as regasification and reloading tariffs. The preliminary revenues of the LNG terminal for the first eleven months of 2017 comprise EUR 62.7 million and increased by 2.0 per cent compared to the same period of 2016 (EUR 61.5 million).

Total preliminary sales revenues of the Company for the first eleven months of 2017 comprise EUR 96.4 million, i.e. 0.6 per cent higher compared to same period 2016 (EUR 95.8 million).

Petroleum products transhipment and LNG re-gasification and reloading:

Petroleum products transhipment and LNG re-gasification and reloading in 2017 by month:

Preliminary revenues of the Company, EUR million:

Marius Pulkauninkas, Chief Financial Officer, 8 46 391 763