January the 4th, 2021 – A Hungarian company is set to enter the Croatian gas market through the much talked about Krk terminal.
As Poslovni Dnevnik writes, the purchase of liquefied natural gas through the Krk terminal will provide the Hungarian company MVM with direct access to new resources and clients and entry into the wider Croatian gas market, the group announced on the occasion of unloading their first shipment.
The Krk terminals commercial operations finally began on January the 1st this year with the docking of the tanker “Tristar Ruby”, which delivered 155 thousand cubic metres of liquefied gas in total for the Hungarian gas trading company MFGK, a member of the aforementioned MVM group.
This shipment is “the first element of a package of agreements” by which MFGK reserved a total of 6.75 billion cubic metres of gasification capacities and supply contracts for a period of almost seven years back in June 2020, which started on January the 1st, 2021,” the statement explained.
By supplying through the Krk terminal, the Hungarian MVM group is directly entering the wider Croatian gas market through the Croatian subsidiary of MFGK, in accordance with the strategy of expanding business in the region, which includes Croatia, Austria, Slovakia and the Czech Republic, as well as Serbia and Romania, it was added.
The Krk terminal and the procurement contracts concluded by MFGK will provide neighbouring Hungary with “real gas supply and the diversification of (supply) routes” as well as provide direct access to natural gas sources and “market players” that haven’t been made available to on the Hungarian market or indeed on regional markets to date.