The company is required to cover most of the operating costs of the Liquefied Natural Gas (LNG) terminal. Last year the company improved its positions in main markets, the European Union and Nordic countries, by selling 2.37 million tonnes of production.
However, in 2014 Achema recorded a net loss of EUR 25 million due to falling prices of fertilisers in global markets, expensive gas and growth of other expenditure. Meanwhile in 2013 it posted EUR 1.5 million of net profit.
"Not only gas prices but decisions made by the state will determine if we will stop losing money and make a profit. In 2015 we have been attributed 60% of the LNG terminal's upkeep costs and this may cost Achema EUR 30 million. We are striving for a dialogue with responsible institutions and hope that our request to revise legislation related to the terminal's financing mechanisms will be heard," said Ramunas Miliauskas, Head of Achema.
