Saturday, September 26, 2020
Home Oil & Gas All free capacity at the Krk LNG terminal has been booked

All free capacity at the Krk LNG terminal has been booked

All the free terminal capacity at the LNG terminal in Krk, Croatia, has been booked for the next three gas years.

Pursuant to the rules of operation of liquefied natural gas terminals, all the interested users can book long-term LNG regasification capacity every year by 15 June.

Earlier, MFGK Croatia, subsidiary of the Hungarian state-owned energy group, MVM, has booked 6.75 billion cubic metres (bcm) from 2021 until 2027. In May, also MET Croatia Energy Trade, a 100 per cent subsidiary of Switzerland based MET Group, submitted a binding offer to book capacities for a three-year period, amounting to 1.3 billion cubic metres overall.

A final offer was also received by POWERGLOBE QATAR which will deliver LNG cargoes mainly from Qatar and the US. The company will also apply for the natural gas and LNG supply license across Croatia, Hungary and Slovenia and use the natural gas transmission system of Croatia.

Qatar is playing an increasingly important role in the LNG market. Petroleum and LNG are the cornerstones of Qatar’s economy and account for more than 70 per cent of total government revenue, more than 60 per cent of gross domestic product and roughly 85 per cent of export earnings. Proved oil reserves of 15 billion barrels should ensure continued output at current levels for 23 years.

Photo: POWERGLOBE QATAR

Most Popular

PGNiG Upstream Norway acquires two new fields in the North Sea

PGNiG Upstream Norway signed an agreement with Norske Shell to acquire interests in Kvitebjørn and Valemon, two producing fields in the North Sea. The gas produced will be sent to Poland after the Baltic Pipe link is launched.

Antje Kanngiesser appointed new CEO of the Alpiq Group

Antje Kanngiesser has been appointed as the new CEO of the Alpiq Group, the leading Swiss electricity producer.

Taking account of social and environmental impacts ahead of the World Tourism Day

Tourism has been among the hardest hit of all sectors by the COVID-19. On this World Tourism Day, the pandemic represents an opportunity to rethink the future of the tourism sector, including how it contributes to the sustainable development goals.

Regulatory challenges ahead of the hydrogen vision

Despite the tremendous interest in hydrogen technology, the development of the European hydrogen market still has to overcome many regulatory and legislative challenges.