Page 14 - EurOil Week 16 2021

EurOil NEWS IN BRIEF EurOil

it is a market leader in Greece. net loss of HRK1.1bn (€145mn) in 2020,
First two fuel stations under reversing a net profit of HRK486mn a year
earlier.
Shell brand opened in North Azerbaijan’s oil exports in Q1 renewable energy projects to its portfolio
In January, INA said it plans to add
Macedonia posted at 8.9mn tonnes and is specifically considering offshore
wind and solar energy developments in the
North Macedonia’s Coral Fuels, a subsidiary Azerbaijan’s oil exports in the first quarter country. The company intends to start with
of Greek petroleum product distributor amounted to 8.9mn tonnes, according to the solar energy and the installation of pilot solar
Coral, launched its operations by opening the country’s State Statistics Committee. projects at its own industrial facilities..
first two petrol stations under the Shell brand Around 77% flowed through the Baku-
in the southern part of North Macedonia, Tbilisi-Ceyhan (BTC) pipeline that reaches
media reported on April 20. Turkey via Georgia. Flows of Azerbaijan gas to
Coral Fuels is the owner of the license for However, Azerbaijan’s oil exports through
the Shell brand in North Macedonia. the BTC declined by 9.3% y/y to 6.9mn Greece, Italy via TAP ‘still in
The first two stations under the Shell tonnes in the first quarter, the statistics body
brand are located near Smokvica, on the added. ramp-up phase but impacts
motorway that leads to Greece, Faktor.mk The BTC pipeline is used to export oil
reported. from the Azeri, Chirag and Guneshli oilfields felt in LNG market
Coral Fuels entered the Macedonian operated by BP.
market by securing long-term contracts for Flows of Caspian Sea gas to Greece
Shell’s license. The contract includes support and Italy from Azerbaijan via the Trans
and transfer of fuel-related know-how, Croatia’s INA gets 40- Adriatic Pipeline (TAP)—the final piece
application of new technologies, as well as of the Southern Gas Corridor (SGC),
the establishment of services and marketing year concession for Urinj which went operational at the end of
with high standards. 2020—remain in the ramp-up phase, but
“We are pleased to be able to offer industrial port construction their impacts are already being felt in
consumers in North Macedonia high- the liquefied natural gas (LNG) market,
quality Shell fuels, as well as the transfer of Croatia’s government decided to award a 40- according to S&P Global Platts.
global knowledge about the development of year concession to local oil and gas company LNG supplies to Greece in the first
products and services,” George Hatzopoulos, INA for the construction and operation of the quarter of 2021 more than halved year on
Coral’s retail general manager, was cited as Urinj industrial port in the Kostrena Barbara year, as pipeline deliveries via the SGC
saying. municipality, it said in a statement following began and sky-high spot LNG prices saw
In the next period, Coral Fuels intends its regular session. cargoes diverted to Asia, it reported.
to invest in other filling stations in North The total area covered by the concession Greek state importer DEPA is
Macedonia. in Kostrena Barbara, which is located near contracted to take 1bn cubic metres (bcm)
The parent company Coral, formerly Rijeka, is 124,544 sq m. per year of gas from Azerbaijan. Italian
known as Shell Hellas, has been operating in Under the concession agreement, INA buyers have taken approximately half of
Greece since 1926. With around 750 petrol will also build maritime facilities outside the their contracted TAP volumes so far in
stations operating under the Shell brand, the port area in Kostrena Barbara. 2021.
company has a market share of over 23% and INA ended 2020 with a consolidated “Greece can therefore be expected to

P14 www. NEWSBASE .com Week 16 22•April•2021