Croatia’s 1st LNG Terminal

03.03.2016 – The Croatian Government is looking into a floating LNG terminal as the country wants to speed up its efforts on construction of an LNG terminal in the Northern Adriatic sea which has been long overdue.

A floating LNG terminal would reduce the construction costs and take only two years to bring to fruition, instead of at least five years it is required now to construct the terminal on the island of Krk, First Deputy Prime Minister of Croatia, Tomislav Karamarko told US Special Envoy and Coordinator for International Energy Affairs, Amos J Hochstein.

Croatia’s first LNG import terminal, currently being reviewed by the European Investment Bank, is supposed to have a throughput capacity of 6 Gm3/year and will include a tanker jetty to accommodate the LNG carriers, 2 LNG storage tanks with a total storage capacity of up to 360 000 m3 LNG, vaporisers and ancillary equipment.

EIB is considering to finance approximately EUR 339 million, from the total cost set at EUR 678 million.

The final scope and exact costs are expected to be defined at a later stage.

According to Karamarko, there is a need to make the project a priority and speed things up as the previous government was inefficient in making key decisions necessary for the construction of the LNG terminal.

Hocshtein promised the US support in the construction of the gas transportation system required for the integration of the LNG terminal in Croatia’s existing power network, stressing that the LNG project is of mutual interest.

The LNG Krk is classified as a project of common interest (PCI) and included in the top priority list under the Central and South-Eastern European Gas Connectivity initiative (CESEC). The project would help to meet the security of supply objectives of the European Union.

Source World Maritime News