Croatian LNG project on the island of Krk has been awarded 102 million euros ($108.6 million) under the European Union’s Connecting Europe facility (CEF).
The EU member states have agreed on the European Commission’s proposal to invest 444 million euros in priority energy infrastructure.
According to the filing, the funds will be used for the studies for the FSRU solution at the terminal as well as the construction of the facility.
Last year, Croatian government opted to utilize the floating LNG solution for its import facility, with an initial capacity of 2 billion cubic meters of gas per year.
LNG Croatia (LNG Hrvatska), the company developing the LNG terminal, expects the to have the project completed in 2019.
The total costs of the LNG project are estimated to be around 363 million euros.
1 EUR = 1.06530 USD
LNG World News Staff