Wärtsilä has been contracted to extend the capacity of the regasification system installed onboard LNG Croatia with a new regasification module, says an article published on Gasworld.
Storage and regasification unit
A 280-meter-long floating storage and regasification unit, LNG Croatia is owned by Zagreb-based LNG Hrvatska, and acts as the company’s LNG terminal on Krk island.
The new system will supplement the vessel’s existing onboard Wärtsilä regasification system and increase the terminal’s capacity to 212 million standard cubic feet per day.
Kjell Ove Ulstein, Sales and Marketing Director at Wärtsilä Gas Solutions, notes that the expansion project is significant in strengthening Croatia’s energy security and gas supply.
Capacity conversion
The project itself represents a significant investment in Croatia’s energy infrastructure and has been included in the list of EU Projects of Common Interest (PCI).
Wärtsilä will also supply the engineering for the capacity conversion. The plant will be installed during the summer of 2025.
Terminal’s capacity
In August , the Republic of Croatia announced a €180m investment in the development of the lobin-Bosiljevo gas pipeline and increasing capacity of the LNG terminal in Krk.
At the time, it was said that around €155m would be invested in the gas pipeline network and €25m for the expansion of the terminal’s capacity.
Europe and China will compete for limited LNG volumes amid continuing market volatility in the near term, according to the Shell LNG Outlook 2023 report.
Balance the global market
The report states the loss of Russian piped imports has ‘structurally altered’ Europe’s gas market and gas demand ‘destruction’ has heavily impacted Europe’s industrial sector, particularly the fertiliser market, but also chemicals, steel and cement.
European LNG imports soared 60% last year (up 45MT) to replace Russian gas although lower Chinese imports helped balance the global market. Global LNG trade hit 397m tonnes, a 16m tonnes increase on 2021.
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Source: Gasworld
