Klaipedos Nafta - Notification on material event

AB Klaipedos nafta preliminary transhipment and revenue results for the November 2016

During November 2016 AB Klaipedos nafta (hereinafter – the Company) reloaded
544 thousand tons of petroleum products into its storage tanks of Klaipeda oil
terminal and Subacius fuel base (SFB), i.e. less by 0.5 per cent compared to
November 2015, when 547 thousand tons were reloaded. 

During January – November of 2016 the Company in total reloaded 6,758 thousand
tons of petroleum products into its storage tanks or greater by 17.2 per cent
compared to the same period of 2015 when 5,764 thousand tons were reloaded.
Total transhipment volume for the 11 months of 2016 is higher by 994 tons
compared to the same period of previous year because of increased petroleum
products transhipment of AB ORLEN Lietuva and increased petroleum products
freights from Byelorussia. 

During November 2016 in the Liquefied Natural Gas (LNG) Terminal of the Company
911 thousand MWh of the natural gas were re-gasified and supplied to the
natural gas transmission system, i.e. grater by 3,2 times compared to November
2015, when 282 thousand MWh where re-gasified. During eleven months of 2016 the
Company in total re-gasified 13,761 thousand MWh of the natural gas, i.e.
grater by 3.1 times compared to the same period of 2015 when 4,372 thousand MWh
natural gas was re-gasified. 

The sales revenue of AB Klaipedos nafta oil terminal and SFB for the November
2016 comprise EUR 2.4 million that is less by 22.6 per cent compared to the
revenue of November 2015 (EUR 3.1 million). The preliminary sales revenues
during January – November of 2016 of the Company’s oil terminal and SFB
comprise EUR 34.1 million and are less by 5.5 per cent compared to the same
period of 2015 (EUR 36.1 million). 

The preliminary sales revenues of the Company’s LNG Terminal for November 2016
comprise EUR 5.5 million (November 2015 – EUR 5.4 million), which consist of
the liquefaction and regasification activity revenues for the period calculated
based on the tariffs approved by the National Control Commission for Energy
Control and Prices. The preliminary revenue of the LNG terminal for the 11
months of 2016 comprise EUR 61.4 million and are grater by 3.5 per cent
compared to the same period 2015 (EUR 59.3 million). 

Total preliminary sales revenues of the Company for the 11 months of 2016
comprise EUR 95.5 million, i.e. 0.1 per cent grater compared to same period
2015 (EUR 95.4 million). 

Petroleum products transshipment and LNG re-gasification

                                          November          January – November  
--------------------------------------------------------------------------------
                                     2016  2015  Change,   2016    2015  Change,
                                                    %                       %   
--------------------------------------------------------------------------------
Petroleum products transshipment,     544   547   -0.5%    6,758  5,764   17.2% 
 thousand tons                                                                  
--------------------------------------------------------------------------------
LNG re-gasification, thousand MWh     911   282   223.0%  13,761  4,372   214.8%
--------------------------------------------------------------------------------



Preliminary revenues of the Company, EUR million

                                       November         January – November  
----------------------------------------------------------------------------
                                2016  2015  Change, %  2016  2015  Change, %
----------------------------------------------------------------------------
Klaipeda oil terminal activity  2.15  2.83   -24.0%    31.5  33.8    -6.8%  
----------------------------------------------------------------------------
Subacius fuel base activity     0.25  0.27    -7.4%     2.6   2.3    13.0%  
----------------------------------------------------------------------------
LNG terminal activity            5.5   5.4     1.9%    61.4  59.3     3.5%  
----------------------------------------------------------------------------
Total:                           7.9   8.5    -7.1%    95.5  95.4     0.1%  
----------------------------------------------------------------------------




         Marius Pulkauninkas, Director of Finance and Administration
Department, +370 46 391 763