Reuters: Croatia Revives Gas Terminal Project

Spurred by the demise of Russia's South Stream gas pipeline project, Croatia has revived a decade-old idea of building a liquefied natural gas import terminal at the deepwater oil port of Omisalj on the island of Krk.

The idea had foundered primarily because Europe's demand for gas fell during the global financial crisis, making the project no longer economically viable for investors, including some major European energy companies.

But the Ukraine crisis and the collapse of South Stream have refocused minds in central and eastern European nations on their need to reduce dependence on Russian gas and their vulnerability to disruptions of supply that come via pipelines across Ukraine.

"Everybody considers this the miracle weapon," said Attila Holoda, managing director of energy consultancy Aurora Energy Kft.  MORE