MET books large capacities in Croatian LNG terminal

MET books large capacities in Croatian LNG terminal

The MET Croatia Energy Trade company has submitted a binding offer to the LNG Hrvatska Company to book capacities in the LNG terminal on the northern Adriatic island of Krk for a three-year period, amounting to 1.3 billion cubic meters overall, MET Croatia announced on Monday.

“Significant changes in the international energy markets are spearheaded by the rapid growth of global LNG trade, a development that MET Group welcomes. The Croatian LNG project will help Central and Eastern Europe to become an integral part of this global market. Furthermore, Croatian LNG imports will help MET Group link most of its downstream markets both from pipeline gas and from an LNG perspective as well”, the company said in a statement.

Mario Matković, CEO of MET Croatia Energy Trade, said that that company was actively monitoring the global growth of demand for liquefied natural gas and increasing the volume of LNG delivered day by day.

“To succeed on the LNG market, apart from the specific knowledge with a global LNG desk, it is necessary to have a local presence, i.e. market access for gas placement. We are the only player in the region that has both. Therefore, we have no doubt that booking the capacity in the LNG terminal in Krk will highly contribute to our long-term business strategy”, Matković said.

MET Croatia, a member of MET Group, a European energy company headquartered in Zug, Switzerland, has been present in Croatia since 2013. The group employs 1,700 people in 15 countries, operates in 26 gas markets and is active in 22 international trading hubs. MET Group has been operating for 13 years and is the leading independent integrated energy company in the CEE region and other European markets including Spain and Italy, the statement said.

According to information available on the website of the LNG Hrvatska company, construction work on the floating LNG terminal is proceeding according to plan, and the terminal is due to start operating in early 2021. The terminal’s technical capacity is 2.6 billion cubic metres annually.

The value of the investment project is estimated at €233.6 million. The European Commission has granted €101.4 million given that the project is listed among the Commission’s projects of common interest./ibna