POWERGLOBE EUROPE has successfully booked regasification capacity to LNG Croatia

POWERGLOBE EUROPE (with offices in Greece) has successfully booked long-term regasification capacity allocation to LNG Hrvatska d.o.o. – LNG Croatia. The delivery schedule is for fifteen (15) years starting from 1st January 2021. The LNG regasification capacity for 2021 will be around 0.5bcm or 5.3billion kWh.

POWERGLOBE will deliver LNG cargoes at the island of Krka from its global LNG portfolio, mainly Qatar and US. The delivery schedule consists of a) six (6) conventional size vessels at the LNG terminal between 2021 and 2025, b) eight (8) conventional size vessels between 2025 and 2030, and c) twelve (12) conventional size vessels between 2030 and 2035.

POWERGLOBE EUROPE with offices in Athens Tower – Greece, plan for cargoes delivery and diversion across Greece (Rivithoussa Terminal), Malta Terminal, Croatia LNG and Italy (Adriatic FSRU), which bellongs to Qatar Petroleum and La Esso Italiana S.r.l. (ExxonMobil Group in Italy).

Island of Krk, Croatia LNG

The floating LNG terminal is located in Omišalj municipality on the island of Krk, in the Republic of Croatia. The terminal has a geopolitical and strategic dimension in the context of strengthening the European energy market and increasing the security of gas supply to European Union countries. It is a project of strategic importance for the European Union and the Republic of Croatia. POWERGLOBE will apply for the natural gas and LNG supply license across Croatia, Hungary and Slovenia and use the natural gas transmission system of the Republic of Croatia (Plinacro Ltd.).

The technical capacity of the terminal is 2.6 billion cubic meters per year and the planned start of operation of the terminal is 1 January 2021. Additionally, with the construction of Omišalj-Zlobin pipeline, transmission system will be able to accept 2,6 bcma of natural gas from the terminal (Omišalj-Zlobin pipeline is under realization and will be operational by the end of 2020). In order to accept larger capacities, additional investments in transmission system are necessary.

Furthermore, investment of approximately 200 mil EUR is necessary in order to accept 3,5 bcma of natural gas from the terminal and additional investment of approximately 100 mil EUR to accept 7 bcma of natural gas. Compressor station KS-Velika Ludina, which became fully operational in 2019, has the annual capacity of 1,7 bcma of natural gas that can be exported into Hungary.

Sources: QGN, BBCNEWS, CROLNG, LNGWORLD, QAN, TTFC, ICEE.