Croatia wants to increase gas production by 10 percent but the gas can only be sold to the state.Continue reading
After more than a year of negotiations, the MOL Group and Janaf have reached an agreement on the fee for the use of the Adriatic pipeline, the MOL Group – reports Reuters. It is unknown, whether the over-the-market price fees are a response to the ongoing saga with the Hungarian company’s controversy-hit purchase of the Croatian petro-chemical giant INA, or an exploitation of the situation around the current threats of a closure of the Russian Druzhba pipeline by Ukraine.
According to the information, the Croatian oil pipeline operator Janaf has offered a one-year contract at an exceptionally high price, which will result in Mol paying several times the current fair market price.
The MOL Group had no choice but to sign the agreement, as the Adriatic pipeline plays an important role in the security of supply in the Central and Eastern European region
– they added.
Croatia’s oil pipeline operator Janaf has signed a transport and storage deal with Hungary’s MOL for the shipments of 2.9 million tonnes of crude on the Adriatic pipeline to MOL’s Hungarian and Slovak refineries.
The refineries in landlocked Hungary and Slovakia are fed with Russian crude via the Druzhba pipeline’s southern spur, and with non-Russian seaborne crude supplies via the Adriatic pipeline, MOL’s main alternative.
MOL’s previous contract with Janaf for shipments of 500,000 tones of crude on the pipeline expired at the end of March.
Via Reuters, Featured image: Pixabay
