EU grants 102 mln euro to Croatia for LNG terminal project

EU grants 102 mln euro to Croatia for LNG terminal project Author: LNG Hrvatska. License: All rights reserved.

ZAGREB (Croatia), February 17 (SeeNews) - Croatia's government said on Friday it has received a 102 million euro ($108.7 million) grant from the European Union for the construction of a liquefied natural gas (LNG) terminal on the Adriatic island of Krk.

"This is one of the most important energy projects not only at the national, but also at the regional and European levels, as proven by today's decision on co-financing", energy minister Slaven Dobrovic said in a statement issued by the government's press office.

"This project will definitely give a boost to the Croatian economy and industry, which will have the opportunity to develop new services, new skills and new technologies in the field of LNG", Dobrovic noted.

The LNG terminal on Krk island will be financed from the Connecting Europe Facility (CEF).  The funds, approved on Friday by CEF's coordination committee, will cover 50% of the pre-construction study and 27.94% of the works, according to the statement.

Croatia's LNG terminal project envisages the construction of a floating terminal off the island of Krk. Currently, the government is in the final phase of selecting a strategic investor, with construction works scheduled to begin in 2019.

The total value of the project is 363 million euro.

($=0.938746 euro)

5 / 5 free articles left
Get more for free. Sign up for Basic subscription
Get full access. Upgrade to Premium subscription