Croatia to get second-ever LNG cargo after a long wait

Croatia is to receive its second-ever shipment after officially becoming an LNG importing nation on January 1.

To remind, Croatia’s first and only LNG facility on the Krk Island in the northern Adriatic Sea received its first commercial cargo onboard the 155,000-cbm Tristar Ruby. This shipment arrived from the Dominion Cove Point facility in the US.

However, the facility did not receive any additional cargoes since then with some reports suggesting the reason behind this could be that cargoes diverted from Europe to higher-paying markets in Asia following an unbelievable surge in spot prices last month.

VesselsValue shipping data suggests that the 162,000-cbm Adam LNG heads towards Krk after the Oman Shipping Company’s vessel loaded a cargo at Nigeria’s Bonny facility.

The vessel should dock at Krk where the LNG Croatia FSRU is located on March 3, according to its AIS data.

Besides the FSRU, the Krk import facility consists of a jetty and a high-pressure gas pipeline.

Croatia’s first LNG terminal has the capacity to send up to 2.6 bcm per year of natural gas into the national grid.

The LNG import project costs 233.6 million euros ($284 million) but the European Union provided 101.4 million euros.

Furthermore, the terminal operator said last year that three firms booked all of the capacities for the next three years.

These include Hungary’s MFGK which purchased the first cargo, trading firm MET, and Qatar’s PowerGlobe.

Following these bookings, Shell also signed a deal with Hungary to deliver LNG via the Croatian terminal.

Shell is the second-largest shareholder in Nigeria LNG and holds a 25.6% share in the terminal where Adam LNG loaded the cargo.

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