LNG Croatia, the company developing the liquefied natural gas project on the island of Krk, expects to make a final investment decision in early 2018 as open season unveils a strong interest in the project.
The company expects to sign terminal user agreements in the first quarter of 2018, noting in its latest report that the final results of the open season will significantly move the project forward towards the final investment decision, expected to be made in the same period.
LNG Croatia further noted that more information on the open season procedure will be released on Friday, June 23.
The proposed project will include the design, building and operating of the infrastructure necessary for receiving, storing and regasification of liquefied natural gas.
At the beginning of LNG terminal Krk operations, the terminal’s capacity will be limited by the capacity of the transmission system which should amount to 300,000 Nm3/hour or 2.6 bcm of natural gas per annum, which is the amount offered to market participants in the open season.
Croatian transmission system operator Plinacro is planning additional pipeline and compressor investments which would increase the maximum capacity of the Transmission System to 800,000Nm3/hour after 2020.
According to the project development schedule, FSRU to serve the project will be procured by the end of the current year with an expected delivery by the end of 2019.
Commercial operations at the terminal are planned to start at the beginning of 2020, LNG Croatia’s report shows.
LNG World News Staff