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Croatia proceeding with LNG terminal despite low demand

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LNG Industry,

Reuters is reporting that Croatia’s Krk FLNG terminal project will proceed despite doubts over its viability.

The doubts regarding the project’s viability have grown as a low number of binding bids were registered by gas buyers towards the end of 2018. Indeed, while, the terminal has a planned capacity of 2.5 billion m3 per year, so far it has only received bids amounting to 0.52 billion m3 per year.

The project is being funded in part by the EU as part of plans to diversify supply and reduce dependence on Russian energy imports.

According to the Croatian Energy Minister, Tomislav Coric, the terminal is targeting 2021 for its commencement operations.

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