Avenir LNG Limited (N-OTC: AVENIR) today announced it has signed a Joint Collaboration Agreement (JCA) with Prvo Plinarsko Društvo d.o.o. (PPD) which will initially focus on the sale and distribution of LNG by truck and small-scale LNG vessels from the Krk LNG Terminal to off-grid industries, power generation, marine bunkering and truck refuelling stations in Northern Italy and the eastern European countries. This JCA follows the successful collaboration between Avenir and PPD on the first small-scale LNG reloading operation from the Krk FSRU in May 2021.
Starting in October 2022, Avenir and PPD will begin the distribution of LNG by truck from the Krk FSRU to customers in northern Italy and eastern Europe. Under the JCA, the parties will also evaluate the feasibility in developing a long-term solution (together with partners) via an LNG breakbulk terminal along the Adriatic sea to service the underserved eastern European market.
Commenting on the collaboration, Peter Mackey, CEO of Avenir LNG Limited, said
“The combination of Avenir’s small-scale LNG expertise and PPD’s local energy knowledge will allow us to reach strategic growth markets around the Adriatic sea by small-scale LNG supply chains and further enable the switching to cleaner, greener and more sustainable forms of energy.”
Commenting on the collaboration, Ivana Ivancic, Management Board Member of Prvo Plinarsko Društvo d.o.o., said “We can state with pleasure that Croatia enabled infrastructure preconditions for the future development of the small-scale LNG market in the entire region. The synergy of Avenir and PPD will contribute to the Eastern Europe and Adriatic market development bringing a sustainable alternative for businesses and people in the region.”