KN Energies, as the operator of the Klaipėda liquefied natural gas (LNG) terminal, has successfully completed the long-term allocation procedure for the terminal's regasification capacity for the period from 2033 to 2044. The majority of the capacity offered was allocated during the procedure – more than 20 terawatt-hours (TWh): 8 TWh until 2044 inclusive and a further 12 TWh until 2040.

Long-term capacity at the Klaipėda LNG terminal was reserved by five clients – Latvenergo AS, Ignitis AB, Equinor ASA (Norway), as well as two new terminal clients – Gasum Oyj (Finland) and Naftogaz (Ukraine).

The capacity allocation procedure was launched on 25 March 2026 – the market has an opportunity to reserve up to 28 TWh of regasification capacity per year for the period from 2033 to 2044. The capacity offered was divided into seven equal packages of 4 TWh per year, giving market participants the opportunity to choose periods of 8 or 12 consecutive years. The package of approximately 1 TWh corresponds to one conventionally sized LNG cargo.

Guaranteed capacity at the Klaipėda LNG terminal is important for the entire Baltic region and is crucial in securing natural gas supplies to Latvenergo AS CHPPs and Latvian consumers, as it covers part of protected consumption. Use of the terminal with direct procurement at international level guarantees the critical base volume for Latvenergo AS natural gas portfolio and security of supply, which will be purchased on the international market from the world's leading LNG companies.

The importance of the Klaipėda LNG terminal also remains significant in the broader regional context. As the integration of the Baltic and Northern European gas markets continues to broaden, the terminal is becoming a strategic gateway, enabling clients to serve both regional consumers and the wider European market.

It is planned that LNG terminal capacity that remained unallocated during this procedure may be offered to the market through repeated long-term capacity reservation procedures and annual capacity allocation procedures for each individual year. Clients that have already reserved long-term capacity will be given priority in selecting cargo arrival slots and regasification periods.

To achieve the long-term climate neutrality goal of Latvenergo AS, wind and solar energy are required; at the same time, growth in renewable energy capacity provides the overall volume of electricity, and the next step is to find a solution for distributing that variable contribution in line with consumption patterns, with less needed at night and more during the day. As renewable energy generation is seasonally distributed and fluctuates from minute to minute, Latvenergo AS CHPPs and HPPs also impact the balancing of the energy system being one of the cornerstones of energy security in the Baltic region.

Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 29 453 897
E-mail: investor.relations@latvenergo.lv

www.latvenergo.lv

About Latvenergo

Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade and electricity distribution services. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody's has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.

Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and subsidiaries - Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas, development of solar and wind parks in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas, development of solar and wind parks in Lithuania), Elektrum Next SIA (development of solar and wind parks), Laflora Energy SIA (development of wind park), DSE Aizpute Solar SIA (development of solar park), Latvijas vēja parki SIA (development of wind parks), Telšiu vejo parkas, UAB (development of wind park in Lithiania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process) and Liepājas enerģija SIA (generation and trade of thermal energy, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia