US supports Croatian LNG project

US supports Croatian LNG projectKaramarko (left) Hochstein (right) (Image courtesy of vlada.gov.hr)

United States are keen on supporting the development of the Croatian LNG terminal, U.S. energy envoy Amos Hochstein said on Wednesday. 

At a meeting with the Croatian deputy prime minister Tomislav Karamarko, Hochstein voiced the United States are willing to help in the construction of the gas transmission system that would integrate the LNG terminal into the existing Croatian network.

A statement by the Croatian government reveals that it is yet unclear whether the country will opt for a land-based terminal or a floating LNG option that would be completed in a far shorter period.

European Investment Bank began its appraisal of the project based on the proposed land-based option, as it could fund up to €339 million of the project’s total cost that is in the region of €678 million.

The land-based terminal on the Island of Krk would include a tanker jetty, 2 LNG storage tanks with a total storage capacity of up to 360,000 cbm, and have a throughput capacity of 6 billion cubic meters per year.

However, at the meeting with Hochstein, Karamarko noted that the government will give the highest priority to the project and also focus on the floating LNG option, as it would only take two years to complete.

The floating LNG option would enable Croatia to reach the initial target of starting up the terminal during 2019, as the land-based terminal’s construction could take five years, the deputy prime minister said.

 

LNG World News Staff

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