All available capacities at LNG Terminal booked for next 3 years

Pursuant to the rules of use of the terminal for liquefied natural gas (LNG) all available capacities have been entirely booked with the latest reservation made by Powerglobe Qatar LLC, which has booked gas capacities up until the 2034/2035 gas season.

A gas year starts as of October 1 and runs until September 30.

The LNG Terminal on Krk is expected to be operational as of 1 January 2021.

The terminal has a technical capacity of 2.6 billion cubic metres a year.

According to a press release by LNG Croatia on its webiste, Powerglobe Qatar LLC has booked 0.468 billion cubic metres of gas for the next five years (2020/2021 - 2024/2025) and then 0.624 billion cubic metres for five years after that (2025/2026 - 2029/2030), and then 0.936 billion cubic metres for the final five years (2030/2031 - 2034/2035).

LNG Croatia reported that for now more than 2 billion cubic metres has been booked for the period 2023/2024 - 2026/2027 and then more than 1.1 billion cubic metres for the period 2027/2028 - 2029/2030.

The government adopted a decision last year to invest in a floating LNG terminal on Krk Island and bookings were then made for 0.52 billion cubic metres mostly for the HEP electricity provider and the INA oil company.

Early May LNG Croatia announced that MET Croatia Energy Trade had booked capacities at the terminal followed by MFGK Croatia, which is a member of the Hungarian MVM Group.

The value of the floating LNG Terminal is €233.6 million with the European Commission approving a grant of €101.4 million as the terminal was included on the European Commission's list of projects of common interest.