ZAGREB, 23 Feb 2022 - Almost 3.3 million cubic metres of liquefied natural gas has been brought to the LNG lfoating terminal at Omišalj since the start of 2021, when it was put into commercial operation, and more than 1.9 billion cubic metres has been delivered to the Croatian transport system, LNG Croatia says.

In almost 14 months, 23 LNG transshipments have been carried out, and as many LNG transport ships have arrived at the terminal, the terminal's operator adds.

The largest cargo amount arrived from the United States, followed by Nigeria, Qatar, Belgium, Trinidad and Tobago, Egypt, and France.

Contracts on the use of the terminal have been signed with the INA, HEP, MET Croatia Energy Trade, MVM CEEnergy Croatia, and PPD companies.

85% of the terminal's capacity has been leased until 2027.

Responding to a question from Hina, LNG Croatia says that 95% of the gas imported via the terminal has remained in Croatia.

In the first nine months of the terminal's operation, 75% of the regasification capacity has been utilised, the operator says, adding that the financial results for 2021 will surpass the profit planned.

Since the start of commercial operation, there have been no problems or standstills.

In February 2021, not one LNG transport ship docked at the terminal because its users were focused on Asian markets due to a very high demand for LNG and consequently higher prices, the company says, adding that decisions on the commercial terms are made by the terminal's users in cooperation with their suppliers and that the operator's job is only to receive and deliver LNG.

Since early March 2021, all planned ship arrivals have occurred.

Asked if they expect similar market disruptions, the operator says that by building an LNG terminal, Croatia became part of the global LNG market and is subject to all disruptions like markets around the world.

The first LNG tanker, the Tristar Ruby, arrived at the Omišalj terminal off Krk island with 143,000 cubic metres of LNG on 1 January 2021, marking the start of commercial operation.

The floating terminal serves for the reception of LNG ships, gasification and delivery into the gas transport system to reach end users.

For more, check out our business section.

November the 3rd, 2021 - Blockchain technology is one of those things on everyone's lips of late, and while some tilt their heads in confusion, others are taking advantage. Could Blockchain tech reveal just how green the Croatian LNG Terminal actually is? Perhaps.

As Poslovni Dnevnik/Darko Bicak writes, gas is a generally accepted transitional energy source between the fossil and green eras, and in addition to the gas transported by standard pipelines, there's more and more gas from LNG. It is LNG that is increasingly the subject of analyses that question whether its use is really "transitional green" or whether it is ultimately closer to fossil fuels than anything else.

This is especially relevant here in Croatia because finally, at the beginning of this year, after decades of planning and design, the floating Croatian LNG Terminal in Omisalj on Krk was put into operation, which in the medium term should grow into a fixed project with a larger volume on the land.

As Gas outlook writes, the oil and gas industry is considering the use of Blockchain technology for digital monitoring of LNG freight transactions, and analysts estimate that this technology could be a solution to transparency concerns about carbon-neutral trading in this energy source.

The concept of a “carbon neutral” LNG isn't without its problems and Environmental, Social and Corporate Governance (ESG) and it is under the increasing control of investors, governments, lenders, employees and consumers. There are currently no standardised methods for accurately measuring and monitoring direct and indirect emissions associated with the entire LNG supply chain, but there are certain efforts that are emerging.

“There is concern among all stakeholders about the integrity of carbon dioxide reporting, the consistency and methodologies applied. Previous attempts by the industry have been fraught with problems of double counting, the origin of compensation, the transparency of verification methodologies and data quality issues,'' warned Scott Waller, consultant at EY.

This is particularly the case as the LNG industry seeks to extend and expand the use of natural gas - for example by using ships on LNG - in line with the argument that it compensates for higher emissions from the use of coal, oil and diesel.

At this point, there is a lack of evidence to substantiate this claim, but the UN estimates that Blockchain technology will be able to provide greater transparency around greenhouse gas emissions and facilitate the monitoring and reporting of reduced emissions.

This would solve the possible problems of double counting, as reporting and verification of climate measures are crucial to achieving the goals of the Paris Climate Agreement, and its even stricter modifications, some of which are likely to be agreed at the ongoing Glasgow Climate Change Conference in Scotland.

For more on the Croatian LNG Terminal, check out our business section.