LNG Croatia Keeps Missing Targets
LNG Croatia yet again on August 2 said it was postponing the deadline for its Open Season to book capacity in the planned import terminal at Krk island.
It had already deferred final bids from April this year until June, then until August 3, and now it has postponed the deadline until September 28 2018.
"Since LNG Croatia received requests from interested terminal users to extend the submission deadline, LNG Croatia in cooperation with Plinacro and [Hungary's] FGSZ aligned a new time plan for the completing of the Open Season procedure," it said, claiming that "interested terminal users are still in the negotiations procedure with potential LNG suppliers and that finalising negotiations about LNG supply is key for finalising binding offers."
Until two years ago, LNG Croatia - a state-controlled entity - was not sure if it would proceed as an onshore or floating LNG import facility. In summer 2017, it was clear that it was eying the latter, and would need to charter a floating storage and regasification unit (FSRU), and it even said a final investment decision might be taken in 1Q2018.
In September 2017 it tendered for such an FSRU, and yet almost one year later no charter has yet been signed. LNG Croatia announced a new tender for a 'smaller' FSRU in May 2018 - minimum storage capacity of 135,000 m3, rather than 160,000 m3; with a regas capacity of 2.6bn m3/yr, and no longer 6.5 bn m3/yr - yet despite a bids deadline of June 8, no contract award has yet been announced.