LNG Croatia invites bids for LNG terminal construction on Krk island

LNG Croatia, a joint venture formed by energy utility HEP and gas transmission system operator Plinacro, has invited bidders for developing a liquefied natural gas (LNG) terminal on the island of Krk.

Planned to be constructed in the northern Adriatic, the terminal will support Croatia’s attempt to reduce its energy dependence on other countries, reports Reuters.

The European country is also trying to lessen its reliance on Russian energy supplies.

“Croatia declared the project as strategic interest, and promised faster location and construction permits.”

The planned terminal, with a nominal capacity of 6bn m³, is significantly considered after Russia declared to abandon the $40bn South Stream gas pipeline project.

LNG Croatia asked potential investors to submit their letters of interest for the project as early as possible. The terminal is expected to involve investment of €600m.

Croatia declared the project as strategic interest, and promised faster location and construction permits.

LNG Croatia will admit investment applications to a virtual data room after evaluating that they meet the specified criteria. The data room will open on 1 September.

The firms have been given a deadline of 15 December, which is the last day when proposals will be accepted.