MFGK Croatia books 6.8 bcm capacities at Krk LNG terminal until 2027

The LNG terminal is under construction on Croatia's Adriatic island of Krk and is expected to have a capacity to transport 2.6 bcm of natural gas per year as from 2021.

For the 2020/2021 gas season, MFGK Croatia has booked 0.666 bcm, and further 1.014 bcm in each of the next six gas seasons until 2026/2027, with the exception of 2023/2024 when the booked capacity is 1.016 bcm, LNG Croatia said in a statement over the weekend.

Following MFGK Croatia's booking, the overall booked capacity at the future Krk terminal has reached 1.409 bcm for 2020/2021, 2.072 bcm for each 2021/2022 and 2022/2023, 1.534 bcm for 2023/2024, and 1.532 bcm for each of the next three gas seasons.

"The remaining available LNG regasification capacity can be booked long-term during the Annual capacity booking procedure every year by 15 June latest, while short-term capacity can be booked throughout the year," LNG Croatia said, inviting all interested terminal users who are planning to book long-term LNG regasification capacities at the terminal to do so by June 15, 2020.

In May, local gas supplier MET Croatia Energy Trade, part of Switzerland-headquartered energy company MET Group, booked an overall 1.3 bcm of capacities at the KRK terminal for a three-year period.

According to earlier media reports, Croatian oil and gas firm INA and state-owned power producer HEP have also already booked portions of the Krk terminal's LNG capacities.

The LNG terminal project on the Krk island comprises the construction and operation of an LNG terminal featuring a floating storage and regasification unit and its connections to the national gas transmission network. The Krk LNG terminal will deliver gas to the Croatian national transmission network connected to EU member states Slovenia, Italy and Hungary, as well as non-EU members Serbia and Montenegro.

In July 2019, the European Commission approved the Croatian government's plans to support the development of the 233.6 million euro ($264.2 million) project with 100 million euro in state aid.

($=0.884089 euro)