The Croatian government on Wednesday adopted a regulation amending the Gas Market Act and a decision determining the maximum price of natural gas for preferred buyers, to be in force until 31 December this year, in the amount of HRK 2.13 per cubic metre, not including storage costs.

Under the regulation adopted on Wednesday, the government may determine, for a certain period of time, the maximum price of gas for preferred buyers in order to protect Croatia's economic interests and ensure its international competitiveness, taking into account the price of gas on the international market for the same or similar categories of preferred buyers.

The decision on the maximum price of gas for preferred buyers sets the highest price of gas at HRK 2.13 per cubic metre. The price refers to preferred buyers in the production sector with annual gas consumption of less than 100 million cubic metres, notably buyers who buy gas to produce thermal energy for tariff buyers under the Thermal Energy Production, Distribution and Supply Act, not including households.

"INA will of course fully respect the said regulation given that the government has the right to adopt such short term decisions. However, one must underline that, contrary to the common practice, there were no discussions or consultations about the proposed amendments to the Gas Market Act," INA said in the statement.

The company added, however, that it unconditionally supported full liberalisation of the gas business and entry of other players into the market, for which technical prerequisites such as cross border capacity for gas delivery have been met.

Market liberalisation is a prerequisite for the future development of Croatia's economy and is in accordance with EU regulations, INA said.