Croatia to Build Its Own LNG Terminal

Croatia intends to build its own LNG terminal in the northern Adriatic by 2016, Deputy Prime Minister Radimir Cacic told an energy conference on Tuesday, says Reuters.

Cacic told the Reuters that “the investment’s value is expected to be 600 million euros ($755 million) and we hope to get 25 percent of the money from European Union development funds.”

Croatia’s two state-owned energy companies, power board HEP and gas transport operator Plinacro, formed the LNG Hrvatska consortium for the construction of the terminal.

“We would need four years to complete the project if we are very efficient”, Deputy Prime Minister said. “The capacity of the terminal, at least in the first stage, will be 5 billion cubic metres of gas per year.”

This project is an alternative to the already planned LNG terminal at the same site. Four European energy companies started that project: Germany’s E.ON-Ruhrgas, Austria’s OMV Group, France’s Total and Slovenia’s Geoplin. They formed the Adria LNG consortium.

However, because of the decrease in gas demand, Adria LNG consortium postponed the final investment decision until 2013. As Reuters reported, Adria LNG declined to comment on Croatia’s new plans and said only that the project was on hold until next year.

[mappress]
LNG World News Staff, July 04, 2012