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MET books capacities in Croatian LNG terminal

MET books capacities in Croatian LNG terminal

May 4, 2020
On 22 April 2020, MET Croatia Energy Trade submitted a binding offer to LNG Croatia to book capacities in the Krk LNG terminal for a three-year period, amounting to 1.3 billion cubic meters overall as earlier reported by the terminal.

MET Croatia has been present in Croatia since 2013 and is one of the leading gas suppliers on the domestic market. MET Croatia is a member of MET Group, a European energy company headquartered in Zug, Switzerland. The group employs 1,700 people in 15 countries, operates in 26 gas markets and is active in 22 international trading hubs. MET Group has been operating for 13 years and is the leading independent integrated energy company in the CEE region and other European markets including Spain and Italy.

Significant changes on the international energy markets are spearheaded by the rapid growth of global LNG trade, a development that MET Group welcomes. The Croatian LNG project will help Central and Eastern Europe to become an integral part of this global market. Furthermore, Croatian LNG imports will help MET Group link most of its downstream markets both from pipeline gas and from an LNG perspective as well.

MET International, the supply and trading arm of MET Group opened and has been successfully operating its LNG desk since 2016, delivering LNG cargos primarily into its natural gas supply markets in Spain and Italy. The LNG terminal in Krk represents a new supply point for the CEE region, bringing with it greater source diversification opportunities and, as a consequence, greater security of supply.

„MET Group is actively monitoring the global growth for liquefied natural gas and increasing the volume of LNG delivered day by day. To succeed on the LNG market, apart from the specific knowledge with a global LNG desk, it is necessary to have a local presence, i.e. a market access for gas placement. We are the only player in the region that has both. Therefore, we have no doubt that booking the capacity in the LNG terminal in Krk will highly contribute to our long-term business strategy,” said Mario Matković, CEO of MET Croatia Energy Trade.