Page 11 - GLNG Week 13 2022

GLNG EUROPE GLNG

Croatia to expand capacity of Krk LNG

terminal amid sanctions on Russia

PROJECTS & CROATIA plans to expand the capacity of its “We believe that we can achieve this increase
COMPANIES floating LNG (FLNG) terminal off the island of with the current infrastructure of our LNG ter-
Krk to 2.9bn cubic metres (bcm) from the cur- minal thanks to all the ships and all the existing
rent 2.6mn cubic metres annually, Prime Minis- plants there,” Plenkovic said. He added that the
ter Andrej Plenkovic said in a statement. country anticipates receiving EU funding for this
The statement comes as countries across expansion.
Europe urgently seek to reduce their depend- Krk LNG consists of a floating storage and
ence on imports of gas from Russia in the wake regasification unit (FSRU) equipped with four
of Moscow’s invasion of Ukraine, which remains LNG storage tanks and three regasification units,
ongoing. LNG is seen as the major winner of as well as onshore infrastructure. It has been in
there efforts, but it will take time to expand Euro- operation since the start of 2021.
pean regasification capacity in order to allow for The Croatian government is also taking steps
more imports of the super-chilled fuel. to increase its energy production capacity. Ear-
The government has said the country’s oil lier in March, Croatian Minister of Economy
needs can be fully met thanks to the terminal. and Sustainable Development Tomislav Coric
In February, Plenkovic said the facility would said that the country intends to increase its gas
secure enough gas in case Russia stops natural production with six new wells. He added that the
gas deliveries. total domestic production this year is expected
Plenkovic said that the facility’s current infra- to exceed 1 bcm of gas, which will be enough to
structure allows for an increase in capacity. meet 40% of domestic demand.™

Latvia mulls LNG terminal construction

POLICY LATVIA is weighing up the construction of an
LNG import terminal, and US and Middle East-
ern investors have shown interest in participa-
tion, the Latvian Economics Ministry told local
television network LTV on March 27.
At least four potential investors have
expressed interest in the project, which would
complement the Baltic region’s only existing
terminal in Klaipeda, Lithuania, which would
have a capacity of 3.8bn cubic metres per year.
Latvian Prime Minister Krisjanis Karins justified
the development, citing the heightened need for
energy security in the wake of Moscow’s invasion which consumes 5 TWh of gas. Estonia’s only
of Ukraine. alternative to gas imported via Latvia is Russian
“There are companies in Latvia that are con- supplies.
sidering such an opportunity and have shown News that Latvia is considering building an
interest; we will also go to America to inquire LNG import terminal comes as countries across
about the possibilities of building such a termi- Europe urgently reassess their energy security
nal on commercial principles, and let’s talk to our against the backdrop of the war in Ukraine. With
neighbours as well,” Karins said. the European Union pushing to reduce imports
The Klaipeda LNG terminal in Lithuania has of Russian gas by two-thirds within a year and
seen an all-time high in its demand this year, with phase them out altogether later this decade, LNG
its capacity now fully booked until September. could play a significant role. However, more
Lithuania is the largest consumer of gas among import capacity would need to be built across
the Baltic states, with 20 TWh of demand, but in the continent. Countries including Germany
second place is Latvia with 10 TWh. Latvia also are already taking steps to expedite new pro-
benefits from having the region’s only working jects, while LNG import proposals are also being
gas storage facility in Incukalns, not to mention revived in Italy and Croatia has unveiled plans
its centre position between Lithuania and Estonia, to expand the capacity of its existing terminal.™

Week 13 01•April•2022 www. NEWSBASE .com P11