ZABA, SPAN push lower Croatian share indices
Foreign tourist arrivals to Bosnia's Federation down 0.9% y/y in Jan
Ljubljana stock indices decline in lower turnover
Bosnia's Federation annual inflation slows down to 0.7% in Jan
Croatia's industrial PPI down 1.4% y/y in Jan
Aug 19, 2022 13:27 EEST
August 19 (SeeNews) - The Croatian government said it has approved a total investment of 180 million euro ($186 million) to expand the country's gas pipeline network and more than double the capacity of its existing LNG terminal to secure the country's natural gas supply and become a regional energy hub.
“It is a strategic decision as we are going to double the current capacity of the LNG terminal on the island of Krk and to build a new gas pipeline, in order to strengthen the security of natural gas supply in Croatia, as well as to position Croatia as a leader in the new distribution of cards in the energy sector in this part of Europe,” economy minister Davor Filipovic told a weekly cabinet meeting on Thursday, as seen in a video recording on the government web site.
Thanks to an investment valued at 25 million euro, the annual regasification capacity of the LNG terminal on Krk will reach 6.1 billion cubic metres from the current 2.9 billion cubic metres.
A further 155 million euro will be invested in the construction of the 58-kilometre Zlobin - Bosiljevo gas pipeline to create preconditions for further development of the country's gas pipeline system and to increase the transportation of gas to Hungary and Slovenia, according to a document published on the government website.
European Union funds will be used as much as possible to finance these projects, as well as funding from the state budget, Filipovic added.
The LNG terminal on the island of Krk started operating in January 2021. It delivers gas to the Croatian national transmission network, which is connected to fellow EU member states Slovenia, Italy and Hungary, as well as to non-EU members Serbia and Montenegro.
($ = 0.992 euro)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options