Hungary has signed a six-year agreement with Shell to receive 250 million cubic metres of liquefied natural gas (LNG) per year via Croatia’s LNG terminal, which is now under construction on the Adriatic island of Krk, according to Hungary’s Foreign Affairs and Trade Minister Peter Szijjarto.

This means that by the end of 2027, gas arriving from the Krk LNG terminal will meet 10% of Hungary’s gas needs, Szijjarto added.

The Krk LNG terminal will deliver gas to the Croatian national transmission network connected to fellow E.U. member states Slovenia, Italy and Hungary, as well as non-E.U. Serbia and Montenegro. The terminal will have a capacity to transport 2.6 billion cubic metres (bcm) of natural gas per year as from the start of 2021.

In July 2019, the European Commission approved Croatia’s plans to support the development of the $276.2 million LNG terminal project with 100 million euro in state aid.

In February of this year, Szijjarto reiterated Hungary’s interest in acquiring a minority stake in the Krk LNG terminal project, and in linking the gas transmission systems of Hungary and Croatia.

The capacities required for regasification have been contracted, and accordingly all requirements for the marketing of LNG from the LNG terminal in Krk, have been met.

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9th September 2020