Croatian LNG Terminal to Cost €600 Million

Croatian Deputy Prime Minister and Minister for the Economy, Radimir Cacic has confirmed plans for the construction of a proposed LNG terminal.

Speaking to Reuters news agency yesterday, the minister said that he expected the terminal to built by 2016, at the earliest, at a cost of €600 million. Of that €600 million, 25 per cent or €150 million is expected to come from European Union funding.

"We would need four years to complete the project if we are very efficient," Reuters reports Minister Cacic as saying. "The capacity of the terminal, at least in the first stage, will be 5 billion cubic metres of gas per year."

The construction of the LNG terminal will be undertaken by Croation gas transmission operator Plinacro in light of delays surrounding the Adria LNG terminal. That terminal, which has been delayed since June 2010, will likely now be superseded by the Plinacro terminal.

Plinacro is currently in the process of undertaking a feasibility study on the project.