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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

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