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New market study, "Croatia Oil & Gas Report Q1 2014", has been published

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2013-12-27 09:38:44 - Recently published research from Business Monitor International, "Croatia Oil & Gas Report Q1 2014", is now available at Fast Market Research

Uncertainty over the future of INA continues to persist. In October 2013, Hungarian Prime Minister Viktor Orban Croatia said that the country should consider purchasing the near-50 % stake that oil and gas group MOL holds in INA to prevent damage to bilateral relations. Meanwhile, the country is planning a licensing round for 2014 in an effort to boost exploration activity. Question marks still hang over the proposed liquefied natural gas terminals, although Croatia is keen both to diversify the import supply and potentially build a gas trading hub. In this light, we see positively the recent agreement reached by the country with Hungary and Ukraine to build a new gas corridor connecting to the Trans Adriatic Pipeline.

The main trends

and developments in Croatia's oil and gas sector are:

Full Report Details at

* Croatia is set to launch a licensing round in 2014. Economy Minister Ivan Vrdoljak announced the country's intention to further open acreage for exploration, and hopes to 'secure several hundred millions of US dollars' from new contracts signed. This is likely to take place after the government maps out prospects both onshore in the central and northern areas, and offshore in the southern Adriatic Sea, a procedure that Vrdoljak estimates will take six months. Vrdoljak also suggested that Croatia would offer 15 to 20 fields in the Adriatic that is at least 2,000 square kilometres (sq km) large to meet the request of interested parties.
* Gas from the Adriatic and onshore fields should deliver useful domestic volumes over the next few years.
* Croatia, Hungary and Ukraine have reached an agreement to expand their existing pipelines to create a corridor that will carry natural gas through the three countries and connect to the planned Trans Adriatic Pipeline (TAP) in Southern Europe. In Croatia, the corridor would also connect to a planned liquefied natural gas (LNG) terminal on the island of Krk. An official declaration establishing the corridor is expected to be signed by the three countries' leaders in Kiev in early November.
* The government of Croatia is planning to construct its own LNG terminal in the northern Adriatic, reports Reuters, citing a statement by Deputy Prime Minister Radimir Cacic on June 3 2012. The terminal, which is likely to cost EUR600mn (US$755mn), is expected to become operational in 2016. Of the total investment, 25% is expected to come from EU development funds, Cacic said. The LNG Hrvatska consortium has been created to build the terminal, which will have an initial capacity of 5bcm of gas per year.
* In spite of the recent exploration success by INA, which should slow the decline in domestic oil production over the medium term, there is little immediate prospect of major oil accumulations being found and developed. In 2013, oil production is forecast to come in at 19,760b/d, slipping to 17,390b/d by 2022. Consumption of oil is set to rise more slowly than underlying economic growth, reaching 108,720b/d by 2022. Imports are set to rise to 91,000b/d by 2022.

Partial Table of Contents:

BMI Industry View
Industry Forecast
- Oil And Gas Reserves
- Table: Croatia Proven Oil & Gas Reserves And Total Petroleum Data, 2011-2016
- Table: Croatia Proven Oil & Gas Reserves And Total Petroleum Data, 2017-2022
- Oil Supply And Demand
- Table: Croatia Oil Production And Net Exports, 2011-2016
- Table: Croatia Oil Production And Net Exports, 2017-2022
- Gas Supply And Demand
- Table: Croatia Gas Production, Consumption And Net Exports, 2011-2016
- Table: Croatia Gas Production, Consumption And Net Exports, 2017-2022
- Refining And Oil Products Trade
- Table: Croatia Refining - Production And Consumption, 2011-2016
- Table: Croatia Refining - Production and Consumption, 2017-2022
- Revenues/Import Costs
- Key Risks To BMI's Forecast Scenario
Industry Risk Reward Ratings
- Central And Eastern Europe - Risk/Reward Ratings
- Table: Central And Eastern Europe Risk/Reward Ratings
- Caspian Retains Lead In Upstream Ratings
- Russia: Large Resource Base No Guarantee For Opportunities
- Regional Minnows Breaking In
- Table: CEE Upstream Risk/Reward Rating
- Slight Mid-Table Downstream Movements
- Table: CEE Downstream Risk/Reward Ratings
- Croatia - Risk/Reward Ratings
Market Overview
- Croatia Energy Market Overview
- Overview/State Role
- Licensing And Regulation
- Government Policy
- International Energy Relations
Oil And Gas Infrastructure
- Oil Refineries
- Table: Refineries In Croatia
- Filling Stations
- Oil Pipelines
- LNG Terminals
- Gas Storage Facilities
- Gas Pipelines
Competitive Landscape
- Competitive Landscape Summary
- Table: Key Players In Croatian Energy Sector
- Table: Key Upstream Players
- Table: Key Downstream Players
Company Profile
- Industrija Nafte
- Jadranski Naftovod
- Eni
- Other Summaries
Regional Overview
- Central And Eastern Europe Overview
- A Mutually Dependent Relationship
- Weaning Off Russian Oil And Gas
- Azerbaijan Main Beneficiary Of Eastern Europe's Russian Fatigue
- Moving From Pipeline To LNG
- Black (Sea) Gold Could Provide Relief
- Shale Gas Showdown
Global Industry Overview
- Global Energy Market Overview
- Appendix

Full Table of Contents is available at:

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

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