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Monday, March 8, 2021

Northern Adriatic News

F2I Buys Porto di Carrara

Italian infrastructure investment fund F2i announced its entry into the ports sector with the acquisition of the Porto di Carrara Spa (PDC Spa) Group, which owns port terminals at Carrara, Marghera and Chioggia.The Group, which each year handles around 5 million tons of solid bulk cargoes, is one of the main Italian port hubs and operates in the strategic sector of supplying some of the key Italian industrial segments, said a press release from the biggest Italian infrastructure fund with around 5 billion euro in assets under management.Most of the steel supplies for the districts of Brescia…

Piraeus Port Signs MoU with Italian Ports

The Greek port of Piraeus signed a memorandum of understanding (MoU) with Italy’s port authorities from the cities of Venice and Chioggia.The agreement seeks to develop port services and promote increased trade flow between Europe, the Mediterranean and the Far East.The MoU was signed during a meeting between the chairman and CEO of Piraeus port Fu Chengqiu and the president of the Northern Adriatic Sea Port Authority (Venice and Chioggia) Pino Musolino.The MoU envisages cooperation in improving the exchange of best practices and knowhow in port management…

MOL buys Eni's Adriatic Offshore Gas Stakes

MOL Group’s Croatian INA agreed to buy Eni Croatia BV, a wholly-owned member of Eni Group, through which Eni participated in the joint project of gas production in Croatia’s offshore areas Northern Adriatic and Marica.INA will become the 100% owner and the sole operator of the Northern Adriatic and Marica fields after all conditions are fulfilled, including receiving clearance from the antitrust authorities, which is expected in the coming months.The transaction covers 4.3 million…

Croatia Reopens Bidding for LNG Terminal Capacity

LNG Hrvatska launched a second round of bidding for potential operators of an offshore liquefied natural gas (LNG) terminal in Croatia's northern Adriatic on Friday, after the previous round drew little interest.Last week, Croatia's parliament passed a law to enable the construction of the terminal, part of a European Union drive to diversify away from Russian gas imports.The project, which will be built on the island of Krk will be partly funded by the EU but has been criticised by environmental groups and local councils.LNG Hrvatska…

MOL Snaps Up Adriatic Gas via Croatian Unit

MOL Group’s Croatian INA agreed to buy Eni Croatia BV, a wholly-owned member of Eni Group, through which Eni participated in the joint project of gas production in Croatia’s offshore areas Northern Adriatic and Marica. INA will become the 100% owner and the sole operator of the Northern Adriatic and Marica fields after all conditions are fulfilled, including receiving clearance from the antitrust authorities, which is expected in the coming months. The transaction covers 4.3 million…

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Croatia Acts to Cut Red Tape for FSRU Terminal Project

The Croatian government proposed a special law on Thursday to facilitate the construction of an EU-backed liquefied natural gas (LNG) terminal in the northern Adriatic.The floating terminal is expected to start operations in 2020.The European Union wants the facility to help diversify sources of supply and reduce dependence on Russian gas, most notably for countries in central Europe.Brussels will invest 101.4 million euros ($121 million), or 28 percent of the project's assessed value.The law…

© Carabay / Adobe Stock

Croatia to Speed up Building of LNG Terminal in Adriatic

Croatia will pass a special law to speed up the construction of a liquefied natural gas (LNG) terminal in the northern Adriatic, Prime Minister Andrej Plenkovic said on Thursday. Croatia produces more than half of its gas consumption, some 2.5 billion cubic metres (bcm) a year. Once the LNG terminal is built it hopes to be able to supply both its own market as well as central and eastern European countries. "Our aim (is) to pass a special law as a key message that it is a strategic project for us.

MET International Plans to Boost LNG Trades

Switzerland-based MET International AG plans to boost its liquefied natural gas (LNG) trades in Europe by 50 to 100 percent next year, the company's chief executive said on Tuesday. Gyorgy Vargha said that while the company had traded one cargo, or 60,000 tonnes of LNG, per month this year, this is expected to rise to between 1.5 and two cargoes per month in 2018 as MET seeks to increase its role in that segment. MET International was established in 2010 as the natural gas trading arm of parent MET Group…

Croatia's Floating LNG Terminal Due in 2018

Croatia could complete its 2 billion cubic metre per year floating LNG facility in 2018, Economy Minister Tomislav Panenic said. In an interview with Reuters Tomislav said that Croatia intends to complete the construction of a floating LNG terminal in the northern Adriatic by 2018, and the initial capacity would be about two billion cubic metres of gas annually. "That does not mean giving up on the land terminal, but at this point we believe that we can ensure the stability of the market with a floating terminal",  he said.

Croatia May Choose FLNG Terminal

According to Reuters, Croatia may decide to construct a floating LNG (FLNG) vessel for the northern Adriatic – as opposed to an onshore liquefaction plant – in order to begin operations sooner. At the moment, it is unclear what would become of the plans for a land-based terminal on the northern Adriatic island, Krk. So far, seven non-binding bids from both industrial and financial investors have been made for the onshore project. Croatian First Deputy Prime Minister Tomislav Karamarko met in Zagreb with Amos J.

AGCT Opens COSCO Service in Rijeka

Adriatic Gate Container Terminal (AGCT), International Container Terminal Services, Inc.’s (ICTSI) container handling facility in the Port of Rijeka, Croatia, recently launched China Ocean Shipping (Group) Co.’s (COSCO), Adriatic–Greece–Turkey service (AGT) when COSCO selected AGCT as the first port of call of the service. The AGCT launch was marked by the maiden call of Contship Eco last 24 February. The service, which directly connects Rijeka with Greek and Turkish ports, also links the Northern Adriatic ports with Piraeus, Greece.