Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 25

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 3
Chunk 25
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  decreases in the consumption of natural gas due to increases in its price, decreases in the price of alternative energy sources or other factors making consumption of natural gas less attractive;  

  any significant explosion, spill or other incident involving an LNG facility or carrier;  

  infrastructure constraints such as delays in the construction of liquefaction facilities, the inability of project owners or operators to obtain financing or governmental approvals to construct...  

  labor or political unrest or military conflicts affecting existing or proposed areas of LNG production or re-gasification;  

  price fluctuations in the price of LNG, between geographical regions, could negatively impact our expected returns relating to investments in LNG shipping projects;  

  technological advances render existing LNG carriers obsolete or non-viable; or  

  negative global or regional economic or political conditions, particularly in LNG consuming regions, which could reduce energy consumption or its growth.  

Reduced demand for LNG or LNG shipping, or any reduction or limitation in LNG production capacity, could have a material adverse effect on our ability to secure future multi-year time charters for the LNG carriers, or for any new LNG carriers our subsidiaries may acquire, which could harm our business, financial condition, results of operations and cash flows, including cash available for dividends to our shareholders.

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Demand for LNG shipping could be significantly affected by volatile natural gas prices and the overall demand for natural gas.

Natural gas prices are volatile and are affected by numerous factors beyond our control, including but not limited to the following:

  the supply and cost of crude oil and petroleum products;  

  worldwide demand for natural gas;  

  the cost of exploration, development, production, transportation and distribution of natural gas;  

  expectations regarding future energy prices for both natural gas and other sources of energy;  

  the level of worldwide LNG production and exports;  

  government laws and regulations, including but not limited to environmental protection laws and regulations;  

  local and international political, economic and weather conditions;  

  political and military conflicts; and  

  the availability and cost of alternative energy sources, including alternate sources of natural gas in gas importing and consuming countries.  

Any decline in oil prices, which can be very volatile, can depress natural gas prices and lead to a narrowing of the gap in pricing in different geographic regions, which can adversely affect the length of voyages in the spot LNG shipping market and the spot rates and medium-term charter rates for charters which commence in the near future. Any renewed decline in