Croatian INA Aims At Developing Hydrogen Market For Transport

Log in

Remember me

Forgot your password?
Free trial

Croatian INA Aims At Developing Hydrogen Market For Transport

Date: March 1^st 2021

Author: Valerija Hozjan, Alenka L. Klopčič

Topic: Natural gas , Oil and oil derivates , RES and EE , Hydrogen

“Coming from the oil business, we have been affected hugely by the COVID-19 crisis,” emphasised the president of the INA management board, Sandor Fasimon, in a recent Virtual CEO Panel, organised by the Cotrugli Business School. “In 2021 INA will continue its strategic projects and adjustments to the new environment, thus strengthening our future growth potential,” the Croatian oil and gas company INA told Energetika.NET.

“We are committed to the projects in our DS New Course 2023 programme. This means that the project to upgrade the Rijeka refinery is moving forward,” INA told Energetika.NET.

INA has also remained committed to developing the industrial location in Sisak and sustainable alternatives, emphasised the company. “The sectoral ministry has included the biorefinery project in the List of Strategic Projects of the Republic of Croatia and it has been submitted for financing through the EU Innovation Fund.”

INA has launched investments in upstream, both domestically and internationally, which the aim of ensuring new production and renewal of reserves. “Contracts on exploration and the division of hydrocarbon exploitation for three new exploration areas have been signed with the government of the Republic of Croatia, and 3D seismic surveying of the area has begun on Drava-03, which is also the largest seismic project ever carried out in Croatia,” INA told Energetika.NET.

Croatia has committed to becoming a climate-neutral economy by 2050. The Croatian government has provided EUR 9.15 billion for the green transition in the European Union's multiannual financial framework, which will drive the country's overall accelerated development.

The continuation of investments in the digitalisation of customer services and retail is among INA’s plans. “Furthermore, INA is committed to the introduction of new environmentally friendly fuels for clean and energy efficient vehicles, as well as the development of the hydrogen market in the transport sector in the Republic of Croatia.”

As Energetika.NET has already reported, according to Hrvoje Glavaš, INA’s Director of Strategic Operations and Public Affairs, INA has the capacity to produce a large amount of so-called grey hydrogen with the end goal of producing green hydrogen from completely renewable sources.

However, the company also sees an opportunity in renewable energy sources, with an emphasis on solar power plants, potential wind parks in the Adriatic, and the exploitation of geothermal energy. Read also: Croatia Betting on RES, Batteries, Hydrogen and Stronger Grid As Part of Its Green Transition

Oil and gas prices have drastically fallen in the ‘corona-period’

The whole management had to change almost overnight in the ‘corona-period, confirmed the industry leaders, who hail from the pharmacy, oil and energy, tourism and agriculture sectors, during the recent Virtual CEO Panel.

According to Romeo Colina, chairman of the management board of Zagrebačka banka (Bank of Zagreb), the bank’s marketing budget completely decreased and employment was affected, while according to Jiří Dvorjančanský of A1 Croatia the telecommunications sector was not affected at all.

However, the oil industry was affected dramatically, stated Fasimon, who, among others, said that the prices of oil and gas have drastically fallen in the ‘corona-period’.