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KN, SK Innovation E&S extend LNG cooperation pact

By LNG Prime Staff
KN, SK Innovation E&S extend LNG cooperation pact
Image: KN Energies

Lithuanian LNG terminal operator KN and SK Innovation E&S, the energy unit of South Korean conglomerate SK Group, have extended their framework deal on cooperation opportunities in international LNG business development.

In May 2023, KN and SK E&S signed the framework deal on cooperation, while the latter completed its merger with SK Innovation last year.

KN announced the extension of the deal in a recent statement.

This extension marks an “important step” forward in the partnership that began in May 2023 in Lithuania, it said.

“Building on two years of cooperation in international LNG business development, the renewed framework agreement broadens the scope of joint activities to include project development across the Asia-Pacific region, with particular focus on Southeast Asia,” KN said.

Also, the agreement deepens collaboration in LNG infrastructure, hydrogen, carbon capture, and energy storage solutions.

“Over the past two years, together with SKI E&S, we have been actively exploring projects that leverage the strengths of both companies – KN Energies’ international experience in LNG terminal development and operations combined with SKI E&S’s global energy expertise, advanced technologies, and market access,” said Darius Šilenskis, CEO of KN Energies.

“By extending our partnership during the meeting in Hanoi, we reaffirm our joint commitment to develop new LNG infrastructure and green energy solutions, particularly in Southeast Asia, where energy demand is growing significantly, along with the need to scale up renewables and reduce the carbon share in the energy mix,” he said.

KN operates the FSRU-based LNG import facility in Lithuania’s Klaipeda.

The company’s LNG business also includes projects in Germany, Italy, Brazil, and other countries.

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