Croatia to finance Krk LNG terminal

In addition to a €101.4 EU Connecting Europe Facility (CEF) grant, €32.2m will be provided by the shareholders of LNG Croatia LLC through an increase in equity.

State power board HEP and gas pipeline operator Plinacro will implement the project, for which capital expenditure has been reduced to €233.6m from an initial planned investment of €383m.

The procurement procedure for the floating, storage, and regasification unit (FSRU vessel) was carried out in November 2018. Golar LNG made the favoured bid for a conversion of the existing 2005-built Golar Viking LNG carrier to the FSRU vessel, worth €159.6m.

Delivery of the FRSU vessel to the LNG terminal location is scheduled between 30th September and 30th October 2020.

The procurement procedure for the engineering, procurement and construction of jetty with the auxiliary facilities and connecting high-pressure gas pipeline for the receiving LNG terminal was carried out in January 2019.

A bid from consortium Pomgrad, GP Krk and STSI for €58.442m was evaluated as the most economically sound. Work is expected to start at the end of March or beginning of April.