Experience of the Krk LNG Terminal’s Operation in Croatia Over the Past Year

Abstract

The PCI project in Krk was significant – since it was on a number of strategic priority lists for Croatia and the EU. The projections identified target markets for Croatian LNG in 8 countries, with an estimated combined annual gas demand of 37 billion cubic metres. The terminal on Krk was commissioned in January 2021 and has since been operating as a floating offshore storage and regasification facility. The gas taken up and regasified is fed into the Croatian national transmission network, which is interconnected with Hungary and other EU and non-EU member states. In the year of commissioning, a new complementary service was already added to the package of capabilities of the terminal, which allows for small-scale natural gas refuelling. The terminal has a number of positive benefits beyond the obvious improvement of the regional security of supply. These include the efficient integration of the North-South Gas Corridor into the regional gas market and the enhancement of market opportunities for Central and Southeast European operators and the competitiveness of the region. The aim of this presentation is to assess the one-year operation of the terminal in terms of gas supply and to present the energy future of the region.