LNG Croatia Discloses Revised FSRU Size
LNG Croatia has disclosed the intended revised size of its planned import terminal.
On May 8, it announced cancellation of an earlier tender for a floating storage and regasification unit (FSRU) to be sited at Krk island, setting instead a new deadline to shipowners of bids by June 8. That announcement however gave no details of the vessel's revised size, except that it would be smaller. Now it has disclosed its desired FSRU will have 135,000 m3 LNG storage capacity.
LNG Croatia told NGW May 14 that – whereas in its previous FSRU procurement procedure, the minimum LNG storage capacity of the vessel was envisaged to be 160,000 m3, resulting in a regasification capacity of 6.5bn m3/yr – “in the new FSRU procurement procedure, we have defined minimum FSRU storage capacity of 135,000 m3 which will address regasification capacity of 2.6bn m3/yr in accordance with the capacities of the transportation system of the Republic of Croatia.”
The state-owned developer further added: “This will decrease initially planned project capital expenditure and enable project realisation also with smaller capacity booking in the open season.” It did not give the revised project cost, still expected to be in the region of €360mn ($440mn) – of with EU funds providing €101.4mn or some 28%.
LNG Croatia had a disappointing uptake in a recent open season process, with only one Croatian firm INA reportedly expressing interest.
Reuters reported May 10 that a law to fast-track the untangling of property issues related to the project’s construction by 2020 is planned to get Croatian parliamentary approval under an urgent procedure.