MFGK books LNG regasification capacity at Krk terminal

Energy Trade

Photo by Shutterstock.com

MFGK Croatia, a unit of the state-owned Hungarian Electricity Works (MVM), has booked long-term liquefied natural gas (LNG) regasification capacity of 6.75 billion cubic meters until the 2026/2027 gas year at Croatiaʼs Krk terminal, state news wire MTI says, citing a report by regional daily Novi List.

Image by Shutterstock.com

According to the report, MFGK has booked a capacity of 666 million cubic meters at the terminal for the 2020/2021 gas year and an annual 1.014 bln cubic meters of capacity in each of the following six gas years.

Earlier, capacity at the terminal was booked by Croatia oil and gas company INA, the Croatian Electricity Works (HEP), and MET Croatia Energy Trade, with each booking about half a billion cubic meters a year over the next three years.

The annual capacity of the terminal is 2.6 bln cubic meters, and it needs to use at least 1.5 bln of that capacity to break even.

MFGK Croatiaʼs contract brings the terminal to 80% of capacity.

The floating LNG terminal will start operating in 2021.

ADVERTISEMENT

Wizz Air issues EUR 500 mln bond Transport

Wizz Air issues EUR 500 mln bond

1,438 new COVID-19 cases registered in Hungary Figures

1,438 new COVID-19 cases registered in Hungary

Gov't to roll out PIT exemption for Hungarians under 25 Government

Gov't to roll out PIT exemption for Hungarians under 25

Tourism nights down 85% y.o.y. in November 2020 Tourism

Tourism nights down 85% y.o.y. in November 2020

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.