MOL Proposes Entry into the Ownership Structure of Janafa

The Hungarian oil and gas group MOL announced on Wednesday, after negotiations with representatives of Adriatic Oil Pipeline (Janaf), that they had a constructive conversation with “our crude oil supplier”, from whom they requested to conduct capacity tests, and they also suggested studying “international examples of ownership structures of Western European transport companies, where the presence of oil users as co-owners guarantees fair pricing and continuous availability of services.”

“We have requested the Croatian company that provides us with oil transport services to conduct appropriate tests to demonstrate that it is capable of transporting sufficient quantities of crude oil through Adriatic Oil Pipeline on a daily basis throughout the year. MOL will continue to provide all necessary support in the implementation of testing in Croatia. MOL is, of course, open to involving external experts in this process, but it is important to emphasize that MOL Group bears primary responsibility for refineries and supply security in the region,” they stated in their announcement.

Co-ownership of users as a guarantee of availability and fair prices

They also added that they indicated they propose a return to predictable market principles and prioritizing commercial relationships. MOL has, as they emphasized, always advocated for transparent and market-based price formation.

“We proposed that Janaf study the best international examples of ownership structures of Western European transport companies, where the presence of oil users as co-owners guarantees fair pricing and continuous availability of services. At the same time, we clearly communicated that MOL’s position remains unchanged: for supply security in the region, it is essential to have at least two high-capacity and price-competitive oil pipelines, so that raw materials are available in the event of any disruption in the system,” concludes the announcement.