Hungary set to begin buying Croatian LNG from 2019

05/09/2018 09:31 LNG


Thanks to the LNG terminal on the island of Croatian island of Krk, Hungary could be importing gas from its southern neighbour by the end of 2019.

“It is in both Hungary’s national security and economic interests for it to be able to acquire the natural gas required for running of the economy and to meet public demand from as many sources as possible,” commented the Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó in Dubrovnik, after a meeting with the Croatian Minister for Environment and Energy Tomislav Ćorić.


Mr Szijjártó highlighted the fact that the existing Hungarian-Russian gas purchasing agreement will expire at the end of 2020, creating a totally new situation thanks to which Hungary will be able to include totally new sources in its gas procurement palette.


“Croatia could be a strategic partner from this perspective,” he underlined, as Croatia is planning to complete the major LNG terminal on Krk by the second half of 2020.


Last year, the European Union invested 101.4 million euros in the construction of the liquefied natural gas terminal on Krk, contributing to an overall cost of 383.6 million euros.


Daily (22.05.2019): NBP spot ended down by nearly 3% on Tuesday due to higher Norwegian flows

22/05/2019 11:33:00

The outlook of a tighter supply fuelled by the growing tensions in the Middle East and OPEC’s constant commitment to cut output supported oil prices on Tuesday. Meanwhile, gains were capped by the lengthy U.S.-China trade dispute and its bearish impact on the global economic growth. Brent crude price edged higher by 0.3% to 72.18 USD/bbl, while WTI futures were only 0.1% up at 63.13 USD/bbl.


Serbia aims to complete Bulgaria-Hungary gas link by Dec 18 - energy min

22/05/2019 08:48:00

Serbia plans to complete the construction of a natural gas pipeline from the border with Bulgaria to the border with Hungary by December 18, energy minister Aleksandar Antic said on Tuesday.


Zennor completes North Sea wells

22/05/2019 08:36:00

Independent UK oil and gas firm Zennor Petroleum announced Tuesday the completion of drilling and testing operations at the Finlaggan field in the North Sea, Kallanish Energy reports.