LNG Croatia extends terminal capacity bidding round deadline

LNG Croatia, the state-owned company that is developing the country’s first liquefied natural gas facility on the island of Krk, has extended the second round of bidding for the capacity at the terminal.

The company said that the initial deadline for closing the second round of open season procedure was August 3.

However, since the company received requests from interested terminal users to extend the submission deadline, in cooperation with Plinacro and FGSZ it has aligned a new time plan for the completing of the open season procedure.

Considering that interested terminal users are still in the negotiations procedure with potential LNG suppliers and that finalizing negotiations about LNG supply is key for finalizing binding offers which LNG Croatia expects as a result of the open season second round, deadline for the binding offers submission will be on September, the company said.

Plinacro and its Hungarian counterpart FGSZ are conducting an open season to allow bidders to secure capacity at the entry point into transmission system (Omišalj) and Drávaszerdahely interconnection point in the direction from Croatia to Hungary.

LNG Croatia recently revised its the technical characteristics and capacities of the initially requested FSRU to reduce the initially planned capital costs of the project.

The project will still be developed in two phases, with the first phase including a development of the FSRU while the second phase entails the construction of a land-based LNG import facility, according to LNG Croatia.

The European Union has put the LNG terminal on its list of projects of common interest and will invest 101.4 million euros ($120.2m) in the development.