LNG terminal at Krk gets an EU push

LNG terminal at Krk gets an EU push

Dreams of an LNG terminal in Croatia have taken a new spin after the EU granted € 5 million for the necessary documentation and feasibility study.

Plans to build an LNG terminal at Krk have been going on for a decade, but recent developments have certainly set the wheels in motion.

Minister of Economy, Ivan Vrdoljak told local media that, after getting the priorities list the country received additional funds for preparing the documentation that would justify the need for an LNG terminal at Krk, not only for the Croatian market, but for the diversification of gas supply of the region.

Terminal capacity is reported at 4 to 6 bcm of gas.

Additionally, six companies applied to a tender issued by the Croatian Ministry of Economy, seeking interested parties for hydrocarbons exploration in the Adriatic sea.

Vrdoljak stated that these are major companies and that the decision will be reached by the end of this year. Exploration contracts are to be finalised in the first quarter of 2015, according to a Ministry statement.

LNG World News Staff; Image: Croatian Ministry of Economy

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