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Croatian oil pipeline operator Janaf has signed an oil transport contract with Croatian oil company INA and Hungarian MOL for this year, the pipeline operator’s board of directors announced on Wednesday.
The contract, valid until the end of 2025, will allow MOL to transport 2.1 million tons of crude oil through the Janaf pipeline system and store crude oil in Omisalj and Sisak until the end of 2027. The volume has not changed much compared to last year, when an agreement was signed to transport 2.2 million tons of crude oil.
For INA, it means a bigger deal: 7.2 million tons of crude to the Rijeka refinery until the end of 2025 and crude storage in Omisalj from April 1 until the end of 2025. Based on the company’s financial report, last year it amounted to 2.2 million tons of crude oil.
Janaf has had a supply contract with MOL for thirteen years and supplies crude oil to two of MOL’s refineries: the Százhalombatta refinery (near Budapest), with an annual processing capacity of 8.1 million tons, and the Bratislava refinery (Slovakia), with an annual processing capacity of 6 million tons.
The MOL Group commented on Janaf’s announcement in a statement, confirming that the two companies had signed a one-year oil transport contract with Janaf, the operator of the Croatian section of the Adriatic pipeline. The Hungarian company expressed regret that the two companies had only been able to agree on a one-year contract at prices significantly higher than European transport tariffs.
The MOL Group believes that a multi-year agreement would have better supported predictable security of supply in the region.
They stressed that the high transport tariffs laid down in the contract would certainly not help to maintain low energy prices. At the same time, MOL Group companies are eagerly awaiting the long-announced improvements to Janaf, that would allow for stable, large-scale deliveries of the pipeline in Croatia, all year round, they wrote.
They pointed out that the only way to improve the vulnerability of the landlocked Czech Republic, Slovakia and Hungary is to keep all transport options alive.
With this in mind, and because of our responsibility for the security of supply of the whole region, our companies had no choice but to sign this contract.”
they said in the statement.
Croatian oil pipeline operator Janaf recorded total revenues of €136 million and a net profit of nearly €50 million in 2024. 70 percent of the revenue came from outside Croatia. The Zagreb-based company operates the Croatian section of the Adriatic pipeline, built between 1974 and 1979, that enables the transport of crude oil to both domestic and foreign users.
Via MTI, Featured image: Pixabay