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olivLaw · European equity research

AB "KN Energies" KNE1L.VS

Lithuania · Nasdaq Vilnius · ISIN LT0000111650 · Vertical: Listed companies from Lithuania

0.50EUR+2.06% · 1 dayClose 05 Nov 2026

AB 'KN Energies' operates the Klaipėda LNG terminal and related services for floating LNG import terminals in several countries. The company reported sales revenue of 99,916 TEUR in 2025, while diversifying toward new energies, CO2 and storage, according to its annual report.

At the close of 05 Nov 2026, AB "KN Energies" (KNE1L.VS) stock was 0.50 EUR (+2.06% on the day), with market capitalisation 180.3 m EUR, P/E 9.9 on diluted EPS of 0.05 EUR over the last 12 months, dividend yield 4.04%, beta 0.22, 52-week range 0.32–0.51 EUR.

Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.

Market cap
180.3 m EUR
shares as of 31 Dec 2025
P/E (TTM)
9.9
Diluted EPS TTM 0.05 · TTM to 31 Dec 2025
E/P (TTM)
10.10%
TTM to 31 Dec 2025
Dividend yield
4.04%
DPS 12m 0.02
Beta (2y)
0.22
Volatility (1y) 21%
52-week range
0.320.51

Price history

Loading chart…

Technical reading

RSI (14)
68.7
strong (55–70)
Bollinger (20, 2)
0.47 – 0.49
above the upper band · %B 1.24 · band width 3.9%
SMA 50 / 200
0.49 / 0.46
uptrend (price > SMA50 > SMA200)
MACD (12, 26, 9)
-0.00 / -0.00
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyEURO STOXX 50vs EURO STOXX 50Vertical median
1 month+2.1%−0.6%+2.7 pp—
3 months+4.0%−4.2%+8.2 pp—
6 months+6.2%+4.3%+1.9 pp—
Year to date+21.9%+7.5%+14.4 pp—
1 year+54.2%+9.9%+44.3 pp+10.8%
3 years+138.0%+49.8%+88.1 pp+50.0%
5 years+57.6%+42.8%+14.8 pp—
Max drawdown (1y)
−10.8%
09 Jan 2026 → 27 Mar 2026
Max drawdown (5y)
−35.8%
08 Nov 2021 → 20 Dec 2023
Compound annual growth (5y)
+9.5%
EURO STOXX 50 +7.4%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 100 percentile of its own 3-quarter history (min 5.1, median 5.9, max 8.1; quarters with earnings only).

Fiscal years

Fiscal year202320242025
Revenue83.5 m93.7 m105.2 m
Revenue YoYunavailable+12.1%+12.3%
Net income13.2 m15.4 m18.2 m
Net income YoYunavailable+16.2%+18.5%
Diluted EPS0.040.040.05
Diluted EPS YoYunavailable0.0%+25.0%
net %15.8%16.4%17.3%
Free cash flowunavailableunavailableunavailable

Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
12.4 m EUR
Financial debt
unavailable EUR
Net debt
unavailable EUR
Equity
172.6 m EUR
Total assets
555.0 m EUR
Debt / equity
unavailable
Current ratio
1.80x
ROE
10.8%
ROA
3.3%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (EUR)

Margins

Income statement · EUR

Revenue
2023
83.5 m
2024
93.7 m
2025
105.2 m

esef· 07 Apr 2026verified

Cost of revenue
2023
60.0 m
2024
54.5 m
2025
62.9 m

esef· 07 Apr 2026verified

Gross profit
2023
23.5 m
2024
39.1 m
2025
42.3 m

esef· 07 Apr 2026verified

Operating income
2023
12.7 m
2024
24.5 m
2025
27.6 m

esef· 07 Apr 2026verified

Interest expense
2023
6.0 m
2024
7.6 m
2025
8.6 m

esef· 07 Apr 2026verified

Pre-tax income
2023
16.0 m
2024
19.3 m
2025
21.0 m

esef· 07 Apr 2026verified

Income tax
2023
2.7 m
2024
4.0 m
2025
2.8 m

esef· 07 Apr 2026verified

Net income
2023
13.2 m
2024
15.4 m
2025
18.2 m

esef· 07 Apr 2026verified

Diluted EPS
2023
0.04
2024
0.04
2025
0.05

esef· 07 Apr 2026verified

Dividend per share
2023
0.00
2024
0.01
2025
0.02

esef· 07 Apr 2026verified

Balance sheet · EUR

Cash
2023
19.5 m
2024
17.2 m
2025
12.4 m

esef· 07 Apr 2026verified

Receivables
2023
22.2 m
2024
30.3 m
2025
41.7 m

esef· 07 Apr 2026verified

Inventories
2023
1.6 m
2024
1.9 m
2025
1.6 m

esef· 07 Apr 2026verified

Current assets
2023
106.4 m
2024
100.7 m
2025
119.9 m

esef· 07 Apr 2026verified

Property, plant & equipment, net
2023
140.7 m
2024
426.8 m
2025
415.8 m

esef· 07 Apr 2026verified

Intangibles (excl. goodwill)
2023
643.0 k
2024
469.0 k
2025
618.0 k

esef· 07 Apr 2026verified

Total assets
2023
563.7 m
2024
547.1 m
2025
555.0 m

esef· 07 Apr 2026verified

Accounts payable
2023
15.1 m
2024
16.9 m
2025
21.2 m

esef· 07 Apr 2026verified

Current liabilities
2023
221.4 m
2024
52.2 m
2025
66.6 m

esef· 07 Apr 2026verified

Equity
2023
153.2 m
2024
163.1 m
2025
172.6 m

esef· 07 Apr 2026verified

Shares outstanding at year end
2023
330.7 m
2024
384.2 m
2025
364.2 m

esef· 07 Apr 2026derived

Cash flow · EUR

Operating cash flow
2023
39.2 m
2024
41.6 m
2025
51.7 m

esef· 07 Apr 2026verified

Investing cash flow
2023
-61.3 m
2024
-2.0 m
2025
-29.3 m

esef· 07 Apr 2026verified

Financing cash flow
2023
-30.8 m
2024
-41.9 m
2025
-27.3 m

esef· 07 Apr 2026verified

Dividends paid
2023
0
2024
5.0 m
2025
8.6 m

esef· 07 Apr 2026verified

Computed indicators

Growth

Revenue growth (YoY)
12.3%
computed by olivLawFY 2025
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
12.5%
computed by olivLawFY 2025
Net income growth (YoY)
18.5%
computed by olivLawFY 2025
Net income CAGR 3Y
unavailable
input data missing
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
25.0%
computed by olivLawFY 2025
EPS CAGR 3Y
unavailable
input data missing
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
unavailable
input data missing

Profitability

Gross margin
40.2%
computed by olivLawFY 2025
EBITDA margin
unavailable
input data missing
EBIT margin
26.2%
computed by olivLawFY 2025
Net margin
17.3%
computed by olivLawFY 2025
FCF margin
unavailable
input data missing

Returns

ROE
10.8%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROA
3.3%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROIC
unavailable
input data missing
ROCE
5.7%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Payout ratio (EPS)
40.0%
computed by olivLawFY 2025
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
3.2x
computed by olivLawFY 2025

Liquidity

Current ratio
1.8x
computed by olivLawbalance sheet at 31 Dec 2025
Quick ratio
1.8x
computed by olivLawbalance sheet at 31 Dec 2025
Cash ratio
0.2x
computed by olivLawbalance sheet at 31 Dec 2025

Cash

Operating cash flow
51.7 m EUR
computed by olivLawFY 2025
Capital expenditure
unavailable
input data missing
Free cash flow
unavailable
input data missing
FCF conversion
unavailable
input data missing
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
125 days
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Days inventory outstanding
10 days
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Days payables outstanding
111 days
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Cash conversion cycle
25 days
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025

Market and valuation

Market capitalisation
180.3 m EUR
computed by olivLawbalance sheet at 31 Dec 2025
Enterprise value
unavailable
input data missing
Market cap / net income TTM
9.9x
computed by olivLawFY 2025
P/E (TTM)
9.9x
computed by olivLawFY 2025
Earnings yield
10.1%
computed by olivLawFY 2025
P/B
1.0x
computed by olivLawbalance sheet at 31 Dec 2025
P/S
1.7x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
input data missing
FCF yield
unavailable
input data missing
Dividend yield
4.0%
computed by olivLawFY 2025
Shareholder yield (distributions)
4.8%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 5 of at least 6
  • score weight coverage: 33.3% of at least 60%

A scoring methodology on indicators and valuation, not investment advice.

Closing price

0.50 EUR

05 Nov 2026Source: olivLaw, closing series

Market cap: 180.3 m EUR

Key indicators

Market capitalisation
180.3 m EUR
computed by olivLawbalance sheet at 31 Dec 2025
P/E (TTM)
9.9x
computed by olivLawFY 2025
P/B
1.0x
computed by olivLawbalance sheet at 31 Dec 2025
EV/EBITDA
unavailable
input data missing
ROE
10.8%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Net margin
17.3%
computed by olivLawFY 2025
Revenue growth (YoY)
12.3%
computed by olivLawFY 2025
Dividend yield
4.0%
computed by olivLawFY 2025

Coverage and freshness

25/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 31 Dec 2025
Latest balance sheet date: 31 Dec 2025
Share count (cover of the latest filing), as of: 31 Dec 2025
Source: esefpublished 07 Apr 2026
verified 89derived 3

Score by group

33% · Insufficient data

Estimated value range

Low
0.31
EUR per share
Mid
0.36
EUR per share
High
0.49
EUR per share
Price: 0.50 EUR
The price is above the range
Potential to the central value: -28.2% (value / price − 1)
Margin of safety: -39.3% (1 − price / value)
Agreement between methods: high · 2 methods used · 2 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.27 – 0.62 EUR.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (EUR per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: P/E0.35 – 0.62 (Mid 0.40)
    11 companies used · median multiple 7.9x · quartiles 7.1x – 12.3x
    AKO1L.VS, APG1L.VS, GRG1L.VS, INR1L.VS, IVL1L.VS, KNR1L.VS, LGD1L.VS, RSU1L.VS, VBL1L.VS, VLP1L.VS, ZMP1L.VS
  • Dividend discount (DDM)0.27 – 0.37 (Mid 0.31)

Assumptions (illustrative, editorial)

Risk-free rate
3.0%
Equity risk premium
5.5%
Beta (default)
1.00
Cost of equity
8.5%
Terminal growth
2.0%

Factor scorecard

Insufficient data

Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality17.3%80 (vs peers)19%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growthunavailableunavailable—
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheet3.2x26 (on a fixed band)19%
Current ratio · Balance sheet1.8x83 (on a fixed band)13%
P/E (TTM) · Valuation9.9x46 (vs peers)31%
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuationunavailableunavailable—
Shareholder yield (distributions) · Returns4.8%68 (on a fixed band)19%
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet49/100 · 2/3 factors with a value
  • Growth· partialunavailable · 0/2 factors with a value
  • Quality· partial80/100 · 1/3 factors with a value
  • Returns· partial68/100 · 1/2 factors with a value
  • Valuation· partial46/100 · 1/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

AB "KN Energies" (KNE1L.VS). Latest full fiscal year: 2025; data up to 2025-12-31.

Figures computed from the financial statements: revenue 105.2 m EUR in 2025; YoY growth 12.3%; net margin 17.3%; ROE 10.8%.

The estimated value range is 0.31–0.49 EUR per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 0.36 EUR, the price of 0.49 EUR leaves a potential of -28.2% (value / price − 1) and a margin of safety of -39.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Net margin: 17.3%
  • Current ratio: 1.8x

What contradicts it

  • Interest coverage: 3.2x
  • The price is above the estimated value range

Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, FCF yield, Payout ratio (FCF).

Versus the vertical median

Listed companies from Lithuania · same country · compared with 15 companies

Multiples and returns vs the median

P/E
9.9x
vertical median 8.4x
above median (+17.6%)
EV/EBITDA
—
vertical median 10.2x
P/S
1.7x
vertical median 0.7x
above median (+156.2%)
P/B
1.0x
vertical median 1.0x
above median (+9.4%)
ROE
10.8%
vertical median 11.5%
below median (−5.6%)
Net margin
17.3%
vertical median 5.3%
above median (+227.9%)
EBIT margin
26.2%
vertical median 6.2%
above median (+326.4%)
Revenue YoY
12.3%
vertical median 6.7%
above median (+84.0%)
Net debt/EBITDA
—
vertical median 0.6x
Dividend yield
4.0%
vertical median 4.8%
below median (−16.0%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
LGD1L.VSLitgrid Ab571.2 m16.713.0%8.0%+14.2%+38% / +67%
IVL1L.VSAkcinė bendrovė "Invalda INVL"318.0 m7.019.7%230.8%+44.6%+21% / +165%
AKO1L.VSAB Akola group267.2 m7.210.5%2.5%−4.4%+4% / +58%
APG1L.VSAkcinė prekybos bendrovė "APRANGA"213.6 m13.223.9%5.3%+4.9%+22% / +44%
AMG1L.VSAB "Amber Grid"199.3 m120.00.8%2.0%−6.4%0% / +4%
VLP1L.VSAb "vilkyškių Pieninė"184.2 m16.812.6%3.8%+16.9%+46% / +228%
KNE1L.VSAB "KN Energies"180.3 m9.910.8%17.3%+12.3%+41% / +139%
GRG1L.VSAB "Grigeo"131.7 m7.912.5%6.7%+15.7%+0% / +2%
RSU1L.VSAkcinė bendrovė "ROKIŠKIO SŪRIS"130.5 m7.611.1%4.3%+8.7%−7% / +46%
ZMP1L.VSAkcinė bendrovė "ŽEMAITIJOS PIENAS"117.1 m5.414.1%6.4%+10.6%+9% / +68%
KNR1L.VSAkcinė bendrovė "Kauno energija"88.7 m11.47.6%9.1%−0.3%+16% / +124%
VBL1L.VSAkcinė bendrovė "VILNIAUS BALDAI"37.4 m8.411.5%4.3%+7.1%−5% / +54%
INL1L.VSAkcinė bendrovė "INVL Baltic Farmland"23.7 m29.04.1%91.6%+6.7%+12% / +1%
INR1L.VSSpecialioji uždarojo tipo nekilnojamojo turto investicinė bendrovė "INVL Baltic Real Estate"21.5 m5.913.7%89.4%+2.8%−15% / +34%
NTU1L.VSAkcinė bendrovė "Novaturas"5.8 m—-64.2%-3.8%−3.6%unavailable / unavailable
AUG1L.VSAUGA group, AB——-43.3%-20.7%−6.9%+15% / −73%

1- and 3-year price returns: for KNE1L.VS from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (EUR)

Estimated priceBearBaseBull
1 years
0.32
Total return -33% · Per year -33%
0.56
Total return 17% · Per year 17%
0.83
Total return 74% · Per year 74%
3 years
0.36
Total return -17% · Per year -6%
0.70
Total return 57% · Per year 16%
1.15
Total return 152% · Per year 36%
5 years
0.40
Total return 1% · Per year 0%
0.89
Total return 108% · Per year 16%
1.58
Total return 258% · Per year 29%
What moves the 3-year price the most
  • Exit P/E± 0.18
  • Net margin± 0.12
  • Annual revenue growth± 0.09
  • Annual dilution± 0.01

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

In brief

AB 'KN Energies' operates the Klaipėda LNG terminal and related services for floating LNG import terminals in several countries. The company reported sales revenue of 99,916 TEUR in 2025, while diversifying toward new energies, CO2 and storage, according to its annual report 1.

SWOT

Strengths

  • The company holds long-term capacity contracts with users from several countries and an established operating infrastructure at Klaipėda 1.
  • ISO certifications for quality, environment, health and safety and ISO 27001 for information security support internal control 1.
  • Experience operating floating terminals in Germany and Brazil gives know-how for third-party services 1.

Weaknesses

  • Revenue concentration on a small number of clients is a major risk, and the company has already been affected by the suspension of one important client 1.
  • Regulated activity depends on tariffs set by NERC, which limits control over revenues 1.
  • New activities such as CO2 and energy storage are still at the study stage and do not yet produce material revenue 1.

Opportunities

  • Developing a CO2 value chain in the Baltic region could create a new revenue source if the legal framework is completed 1.
  • Expansion into emerging markets in Asia and Latin America through co-investment or partnerships could diversify the portfolio 1.
  • Hydrogen and derivative storage and handling could become a new activity if local production develops 1.

Threats

  • Geopolitical changes and sanctions may reduce oil product or gas flows to the terminal 1.
  • Sabotage, espionage and cyber-attack risks against critical infrastructure have risen in the Baltic countries 1.
  • Global LNG prices and freight costs may make deliveries through Klaipėda less attractive than alternatives 1.

Risks

  • Client concentrationhigh

    Dependence on a small number of clients can quickly affect volumes and revenues if a major client reduces its activity 1.

  • Operational and environmental riskshigh

    Major incidents can cause damage to infrastructure and the environment, and the company has put internal controls in place to limit this risk 1.

  • Physical securityhigh

    Rising espionage and sabotage activity in Lithuania and the Baltic countries may affect strategic facilities 1.

  • Financial and currency risksmedium

    Exposure to the euro-dollar and euro-real exchange rates and interest rate risk on loans can influence financial results 1.

  • Compliance and sanctions risklow

    Verification of suppliers, clients and contractors is essential given the current geopolitical context, though the probability of this risk is assessed as low 1.

Investment thesis

What would need to be true (bull case)

  • If regional demand for LNG stays high, volumes at Klaipėda and revenues from long-term contracts could support profit growth 1.
  • If the CCS Baltic project moves into the investment phase, the company could become a key operator of the regional CO2 chain 1.
  • Experience operating floating terminals in several countries could generate third-party service revenue if new projects materialise 1.

What would break the thesis

  • If a major client reduces its use of the terminal, regulated and commercial revenues could fall significantly 1.
  • New energy and hydrogen activities are still under study, and legislative delays could postpone any revenue from these areas 1.
  • If regulated tariffs or geopolitical sanctions change unfavourably, the operating margin could be affected 1.

What to watch

  • Development of revenue and net profit from the regulated businessAnnual report 2026
  • Application of the 1.69 EUR/MWh regasification tariff and other NERC tariffs for 20262026
  • Adoption of the CO2 storage legal framework and completion of the FEED study2026
  • Relationship with large clients and LNG volumes received at KlaipėdaQuarterly report 2026

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

The business

The company runs the Klaipėda LNG terminal, where 2,231 thousand tonnes of LNG were received in 2025 and 2.6 billion nm3 of gas were regasified and supplied to the transmission system 1. Its activities also include LNG reloading into small carriers and a small-scale reloading station that delivered 505.1 GWh in 2025 1. Sales revenue in 2025 was 99,916 TEUR and net profit 16,727 TEUR 1.

Internationally, KN Energies provides operation and commercial management services for FSRU terminals in Germany and takes part in the Açu terminal in Brazil through its local subsidiary 1. The company states it holds a 6.3% share of global floating LNG terminal operations and supported 46% of operational floating LNG import terminals in the European Union 1. Beyond its core business it aims to build positions in hydrogen carriers, CO2 storage and energy storage by 2030 1.

The NERC set the LNG regasification tariff for 2026 at 1.69 EUR/MWh, so regulated revenues depend on regulator decisions 1. Total investments in 2025 were 12.6 MEUR, mostly directed to terminal infrastructure 1.

Segments

Klaipėda LNG terminal

The terminal recorded 34 import cargo operations in 2025, up from 30 in 2024, and remains the core of the regulated business 1. Regasification capacity allocated for the 2025 terminal gas year was 35,899 GWh 1. Long-term contracts cover 24 TWh for 2023-2032 and 9 TWh for 2025-2032 1.

New energies

The CCS Baltic project aims to capture about 1.6 million tonnes of CO2 a year from industrial emitters in Lithuania and Latvia, and a CEF grant of more than EUR 3 million supports technical studies 1. The company also explores hydrogen carrier chains and flow battery storage 1.

Market context

Demand for terminal capacity depends on joint gas demand of Lithuania and neighbouring countries, prices of competing gas supply, and global LNG supply 1. Freight costs and availability of LNG carriers also influence volumes reaching Klaipėda 1. The company reports 2.6 billion nm3 regasified in 2025 versus 2.1 billion nm3 in 2024 1.

The global floating LNG import terminal market is concentrated, and KNE's stated 6.3% share places it as a niche operator rather than a leader 1. The battery storage market is expanding quickly, but the company has so far only analysed business cases in this area 1.

Trends

  • LNG demand in Eastern Europe and the Balticstailwind

    Regional reliance on imported LNG could support volumes at Klaipėda, especially under long-term contracts 1.

  • Transition to new energies and decarbonisationmixed

    The national energy independence strategy and European CCS funding could open new activities, but the CO2 legal framework is only expected to be adopted in 2026 1.

  • Tariff regulationheadwind

    Tariffs and revenue caps set by NERC for 2026 limit the margin of regulated activities, and amendments to terminal rules can change operating conditions 1.

  • Geopolitical and security risksheadwind

    The loss of a major client in 2020 and sanctions on Belarus showed exposure to political change, and sabotage risk has grown in Europe 1.

Competitive position

Competition comes from other LNG terminals in the region and from pipeline gas sources in neighbouring countries, which may offer lower prices 1. The company says prices offered by competing sources and infrastructure limits shape demand for capacity 1.

In floating terminals, KN Energies competes with global operators of other FSRU and FSU terminals, and its position in Germany and Brazil depends on contracts won through projects such as DET and GNA 1.

  • Other LNG terminals in the region

    Competing terminals in the Baltics and Central Europe that influence demand for Klaipėda capacity, per the market factors described by the company 1.

  • Pipeline gas suppliers

    Gas sources from interconnected countries compete on price and quantity supplied, a factor the report names explicitly 1.

  • Global FSRU terminal operators

    Companies operating floating terminals in Europe and Asia with which KN Energies competes for operation and service projects 1.

  • Energy storage operators

    Companies in the flow battery and long-duration storage market that KN Energies analyses as potential competitors 1.

News & filings

In the press

No news in our archive over the last 180 days.

Annual reports (ESEF)

Sources

  1. [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / AB "KN Energies" · 31 Dec 2025

Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.