2nd Stage of LNG Croatia’s Open Season Process Kicks Off

Illustration. Image Courtesy: Pixabay under CC0 Creative Commons license

LNG Croatia has opened the second round of binding phase of the Open Season process for its planned LNG terminal.

The call to bids comes just days after the country’s parliament passed a law allowing the construction of the terminal.

The previous tender scheduled for April 2018 was postponed as there was a lack of interest on behalf of companies to secure a portion of the terminal’s capacity.

The project includes the construction of an LNG terminal on the island of Krk together with the connecting gas pipeline.

In order to speed up the construction process, Croatia has opted for an offshore floating storage and regasification unit (FSRU) with a yearly capacity of at least 2 billion cubic metres. An onshore facility is expected to follow at a later stage.

The project will party be funded by the European Union as part of its efforts to diversify gas supply and decrease dependence on Russian gas. To that end, the EU committed to invest EUR 101.4 million (USD 120.3 million) in the project. The grant contributes to the overall estimated costs of EUR 383.6 million

The deadline for submissions is August 3, 2018, LNG Croatia said.

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