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Bidding deadline extended for Adriactic LNG terminal

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LNG Industry,

Reuters is reporting that, for a second time, state-owned LNG Croatia has extended the deadline for submitting binding bids for the use of its planned floating LNG terminal in the northern Adriatic.

According to a statement from the company: “The deadline has been moved from 28 September to 20 December this year.”

Once again, the decision was reportedly made in response to requests from potential bidders.

The terminal forms part of the EU’s plans to reduce its member nations dependency on Russian imports by offering a variety of other competitive sources.

Based on the island of Krk, the terminal is valued at approximately €250 million (€120 million financed by the EU), and its eventual capacity (when it is due to open in early 2020) will depend on demand.

According to Reuters, local media reports suggest that initial demand for the terminal has been rather low, hence the company’s eagerness to comply with requests for deadline extensions in the hope of securing additional bids.

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