Qatari company ”POWERGLOBE” plans for a ten (10) year LNG vessel time-charter agreement in order to support its new booked capacity allocation to Croatia’s floating terminal, on the northern Adriatic island of Krk. POWERGLOBE has booked all the remaining capacity of the Croatian terminal equal to 0.468bcm per annum, in accordance with the rules of operation of liquified natural gas terminal (official Gazette, No. 60/18 and 39/20), as per the Croatia Ministry of Energy. The commercial operations will start from January 1, 2021.
Having full capacity booked for the next 15 years, this project will achieve security of gas supply for Croatia and the rest of the region including Hungary, Slovenia, Slovakia, and Czech Republic. Additionally, the Croatian project will contribute to the security of gas supply across the European Union.
The capacity of the Krk LNG terminal is some 2.5 billion cubic metres (bcm) of gas per year. From 2027 to 2030 LNG Croatia has already sold the capacity of 1.14 bcm of gas annually.
Sources: Reuters, European Gas Daily, S&P Global Platts, NGW, QAN, LNG Croatia, LNG shipping, LNG Europe.