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MFGK books LNG regasification capacity at Krk terminal

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.

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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.