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Croatia to announce tender results for using planned LNG plant in late May

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LNG Industry,

Reuters are reporting that Croatia will announce on 28 May the results of a tender to use capacity at a planned LNG terminal in the northern Adriatic.

The level of demand is likely to determine whether the project on the island of Krk will go ahead.

“The first round for submitting binding bids ended on 8 April. The second round will finish on 6 May and, in case a third round is necessary, it will close on 23 May,” the managing director of LNG Hrvatska, Goran Francic, said.

“The final results of demand for buying capacities in the terminal will be released on 28 May.”

LNG Hrvatska is preparing to build the floating terminal, which Croatia hopes will start operations in early 2020. The final investment decision is expected by the end of June.

The terminal, with projected capacity of 2.6 billion m3 of gas a year, is part of European Union efforts to diversify away from Russian energy imports, most notably for countries in central Europe.

The EU has said it would finance 28% of the terminal’s value, or €101.4 million (US$125 million).

“Given the confidentiality of the procedure we cannot comment on the first round results, but with a knowledge of how the gas traders operate we can expect their active involvement in the following rounds as the first round usually revolves around testing the market and competition,” Francic said.

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