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Croatia to put €100 million towards Krk LNG terminal

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LNG Industry,

According to Reuters, Croatia will put €100 million towards the construction of a floating LNG terminal located in the northern Adriatic.

Tomislav Coric, the Energy and Environment Minister, reportedly told a cabinet session that the terminal is worth €234 million. €101.4 million of this will be provided by the EU; €32.4 million will be provided by Croatian energy firms that will lead the project; and the remaining €100 million will be provided by the state.

According to Reuters, the terminal on the island of Krk has been identified as a strategic project that will help to diversify gas imports from Russia. HEP (the state power board) and Plinacro (the gas pipeline operator) are responsible for developing the project.

Reuters reports that once the terminal has been built, the gas from the terminal will be targeted for countries in both central and southeastern Europe.

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