Investors for LNG Terminal on Krk, Croatia to Be Known Soon

Total Croatia News

Plenty of international interest in the LNG terminal on Krk. 

LNG Hrvatska, company which is managing the project of the LNG terminal on the island of Krk, will today close the public tender for industrial investors interested in the construction of the terminal in Omišalj. Financial (equity) investors have until the end of the year to apply. Industrial investors are companies engaged in the same or similar gas businesses, while financial investors are investment funds and other financiers who need more time to prepare the necessary documents, which is the reason why the tender for them is open until 31 December, reports Novi List on November 30, 2015.

LNG Hrvatska says that they are satisfied with the process, but they would not disclose who potential investors in the terminal are or the number of bids received. “The only thing we can say is that large European and global companies have applied, with long-time experience in the LNG and gas business”, representatives of LNG Hrvatska said.

The applications from industrial investors have been arriving almost daily. The only available information is that in September, two months before the deadline, there were 14 interested investors. The terminal on the island of Krk now has a location permit, while the detailed project is being prepared. The construction of the terminal is expected to start next year and finish in 2019.

“We are pleased with the whole process, and the terminal on Krk has been included in the list of the projects of common European interest, which also confirms its importance in ensuring security of gas supply and diversification of gas supply routes to the EU”, LNG Hrvatska says.

On 18 November, the European Commission adopted a new updated list of 195 key energy infrastructure projects, which includes the LNG terminal on Krk. For a project to be included on the list, it must contribute to the integration of the natural gas market and to improved market competition, increase the security of supply of natural gas, and contribute to reducing CO2 emissions into the environment. Thanks to the inclusion on the list, the terminal on the island of Krk has been given access to EU funds, as well as the possibility of obtaining permits faster.


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