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Recent Study: Croatia Oil & Gas Report Q3 2014

Fast Market Research recommends "Croatia Oil & Gas Report Q3 2014" from Business Monitor International, now available

 
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Boston, MA -- (SBWIRE) -- 06/12/2014 -- Robust international interest in Croatia's recently opened licensing rounds underscores the improved outlook for the market. Increased offshore exploration activity holds upside risks to our outlook for both reserve s and production. However this upside risk will only begin to factor in toward the tail-end of our forecast period. Although offshore blocks appear to be prospective for both oil and gas, we cannot yet factor in any upside to our current forecast scenario. Therefore our core scenario is for continued decline in both oil and gas production, leaving Croatia with a higher import bill as domestic output continues to fall short of demand. We also note an uncertain outlook for the downstream sector with some reports that at least one or both of the country ' s two refineries may be closed by 2018, if not earlier, due to a lack of competiveness.

T he main trends and developments in Croatia's oil and gas sector are:

- 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. Based on our new forecast methodology, in 2014, crude and liquids oil production is forecast to come in at 19,450b/d, slipping to 17,170b/d by 2023.
- In terms of natural gas, we estimate that gas output is set to continue to decline from its 2008 peak of 2.04bcm. Meanwhile, consumption is set to rise at a yearly rate of 4-6% over our 10-year forecast period from 2014 to 2023. This will lead to an increasing gas import requirement over the decade, with imports projected to increase from an estimate of 1.28bcm in 2013 to 3.56bcm in 2023.
- Croatia is planning to construct its own LNG terminal in the northern Adriatic. Adrian LNG, a consortium of E.ON Ruhrgas, Total, OMV and Geoplin, will own and operate the terminal. The project has been delayed, with a final investment decision now expected in 2014 and...

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The Croatia Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Croatia including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Croatia Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Croatian oil and gas industry.

Key Benefits

- Benchmark BMI's independent oil and gas industry forecasts for Croatia to test consensus views - a key input for successful budgeting and strategic business planning in the Croatian oil and gas market.

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