Avenir LNG signs Krk LNG terminal deal
UK-based LNG company Avenir LNG has teamed up with Croatian company Prvo Plinarsko Društvo (PPD) on the sale and distribution of LNG from the Krk LNG terminal to Northern Italy and the eastern European countries.
The parties signed a joint collaboration agreement (JCA) which will initially focus on the sale and distribution of LNG by truck and small-scale LNG vessels from the Krk LNG terminal to off-grid industries, power generation, marine bunkering and truck refueling stations in Northern Italy and the eastern European countries.
This JCA follows the collaboration between Avenir and PPD on the first small-scale LNG reloading operation from the Krk FSRU in May 2021.
Starting in October 2022, Avenir and PPD will start the distribution of LNG by truck from the Croatia FSRU to customers in northern Italy and eastern Europe.
Under the deal, the parties will also evaluate the feasibility of developing a long-term solution via an LNG breakbulk terminal along the Adriatic sea to service the underserved eastern European market.
Peter Mackey, CEO of Avenir LNG, said: “The combination of Avenir’s small-scale LNG expertise and PPD’s local energy knowledge will allow us to reach strategic growth markets around the Adriatic sea by small-scale LNG supply chains and further enable the switching to cleaner, greener and more sustainable forms of energy.”
Ivana Ivančić, management board member of PPD., said “We can state with pleasure that Croatia enabled infrastructure preconditions for the future development of the small-scale LNG market in the entire region. The synergy of Avenir and PPD will contribute to the Eastern Europe and Adriatic market development bringing a sustainable alternative for businesses and people in the region.”