Croatian LNG project planned for the island of Krk will proceed regardless of the lack of interest from natural gas buyers. 

The country’s energy minister, Tomislav Ćorić said the project is among the most important ones for the government noting that it has received the financial backing of the European Union.

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.

Speaking before the Croatian parliament, he noted that the investment in infrastructure and new sources of supply will contribute to energy security, and the development of the floating LNG terminal will enable the diversification of sources.

Ćorić added that the project does not have an alternative since its realization kicked off and will be dominantly in Croatian ownership.

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

Minister did not comment on the potential start of construction or the start of operations at the terminal.

LNG World News Staff