Plinacro hosted two-day workshop concerning LNG project on the island of Krk

In cooperation with the Croatian Ministry of Environment and Energy, the U.S. State Department's Bureau of Energy Resources (ENR) and the U.S. Department of Commerce's Commercial Law Development Program (CLDP) organized a two-day workshop concerning LNG project on the island of Krk on Plinacro premises on 24 and 25 October.



Approximately 70 participants from the Croatian Ministry of Environment and Energy, the Hungarian Ministry of Energy, Croatian Energy Regulatory Agency, FGSZ, HEP, MOL, MVM, INA, PPD, Plinacro, LNG Croatia and other companies and institutions attended a two-day workshop.

On the first day of the workshop, Daria Krstičević, a Member of the Plinacro Board, greeted the participants on behalf of the host, welcoming the initiative of the U. S. Embassy to organise the workshop. She emphasised the importance of the LNG terminal project on the island of Krk, its extremely important contribution to security of supply of Croatia and the countries in the region and pointed out that Plinacro unconditionally supports the project. The participants were then welcomed by the Assistant Minister of Environment and Energy Domagoj Validžić and, on behalf of the organizer, by the USA Ambassador in Croatia, Robert W. Kohorst. In the closing part of the introduction, Barbara Dorić, the Director of the LNG Croatia, presented to the gathered participants the status of the LNG terminal project on the island of Krk.



In the continuation of the first day of the workshop the participants were able to learn more about possible models of project financing, potential stakeholders, risks and implications of particular models from renowned and experienced American experts. Moreover, one of the topics were also contracts on supply of the Terminal from the perspective of LNG terminal supplier / shipper, as well as the main short-term and long-term conditions and risks of such contracts.



On the second day of the workshop, primarily dedicated to potential users of the Terminal capacity, an overview of the global LNG market was presented. Besides that, aspects of the contracts on supply, from the perspective of users (e.g. tariffs and LNG supply flexibility), were analysed.