EU Approves 102 Million Euros for LNG Terminal in Croatia

By , 17 Feb 2017, 14:01 PM Business
EU Approves 102 Million Euros for LNG Terminal in Croatia Source: Creative Commons

Share this:

The LNG terminal project on the island of Krk would be financed from the Connecting Europe Facility (CEF).

“Today, we received great news from the European Commission. For the purposes of construction of an LNG terminal on the island of Krk, the European Union has granted us 102 million euros in EU funds. This is one of the most important energy projects not only at the national, but also at regional and European levels, which has been further proven by today's decision on co-financing. This project will definitely give impetus to the development of Croatian economy and Croatian industry, which will have the opportunity to develop new services, new knowledge and new technologies in the field of LNG”, said Croatia’s Minister of Environmental Protection and Energy Slaven Dobrović, reports Večernji List on February 17, 2017.

“Also, the security of gas supply will not be in doubt after this project is implemented. We sincerely believe that the new supply route will result in a reduction of the price of gas for end users in Croatia”, added Dobrović on Friday, commenting on the decision of the European Union to finance the project of LNG terminal on the island of Krk.

The LNG terminal project would be financed from the Connecting Europe Facility (CEF), and the decision about it was made at today's meeting of the CEF Coordination Committee. CEF is dedicated to investing in infrastructure priorities of the European Union in the fields of transport, energy and digital technology.

The LNG terminal project on Krk is one of major infrastructure projects in Croatia which has been planned for a long time. The plans have been changed repeatedly, so it is still not sure what kind of terminal would be built. Although initially a large land terminal was planned, in recent months there was more talk about a floating terminal, which would be much cheaper to build and operate.

Given all the ambiguities about the capabilities of the terminal, it is still not known how much it would cost to be build, since that dependents on numerous variables. However, it is certain that the grant approved by the European Commission would cover just a part of the costs and that the rest would be financed by the state budget or private investors. Given the uncertainties in gas market in Europe, it is not clear whether the terminal would be economically profitable.

In addition, the Committee approved 40.5 million euros to co-finance the project of improving the electric power transmission system Sincro.Grid, which is being realized in cooperation between Croatian and Slovenian electricity transmission system operators – HOPS, HEP ODS and ELES.

Photo of the day

Editorial

Croatia Traffic Info

  • Due to a traffic accident traffic is flowing with difficulties on Zagreb detour road (A3) from Jankomir junction towards Lučko junction. Due to strong wind at Dubrovnik bridge traffic is suspended for: doubledeckers, trailers and motorcycles. Wind is blowing also on the A6 Rijeka-Zagreb motorway from Kikovica to Tuhobić tunnel and on the A1 motorway from Božići viaduct to Sveti Rok tunnel (driving speed limit of 40 km/h). During the day difficulties can be expected in roadwork areas. Until 31 March at 5pm traffic is suspended on Rijeka detour road (A7) at Rujevica junction. Drivers are invited to keep distance and to adjust the speed to road conditions. With the bad weather the headlights have to be on during the day as well. One lane is free only/traffic is flowing in reduced lanes on the following motorways:-A2 Zagreb-Macelj between Zaprešić and Zabok junctions 20th-18th km in both directions; -A3 Bregana-Lipovac between Kutina and Novska junctions 106th-108th km, 118th-121st km in both directions; -A4 Zagreb-Goričan in Hrastovec tunnel in both directions; -A6 Rijeka-Zagreb at Svilno viaduct 78th-80th km between Orehovica and Čavle junctions in each direction till 1 June; -A8 in Istria on the section Lupoglav-Učka tunnel. Roadworks on the A4 Zagreb-Goričan motorway (Zagreb detour road): - till 9 June traffic is suspended in the entrance lane of Kraljevečki Novaki from direction Sesvete and Dugo Selo towards Ivanja Reka junction, there is a local detour; in the roadwork area traffic is flowing in reduced lanes; - till 26 April traffic is suspended in the exit lane of Popovec junction from direction Goričan towards Popovec, detour for direction Vrbovec-Popovec: Sveta Helena junction (A4)-Sveta Helena-DC3 Goričica-Belovar-Žerjavinec-Soblinec-Popovec junction, for direction Goričan (A4)-Sveta Helena: Komin junction (A4)-DC3-Sveti Ivan Zelina-Donja Zelina-Žerjavinec-Soblinec-Popovec. Lepenica rest area (at 57th km) on the A6 Rijeka-Zagreb motorway is closed till 15 June, the previous rest area and petrol station is the one Ravna Gora (at 30th km), the next one Cernik-Čavle (17,8 km away from Lepenica). Due to roadworks traffic is suspended: -on the DC1 state road in Lučko and Stupnik (Zagreb); -on the DC8 Adriatic road at Posedarje till 10 April; -on the DC6 state road, section Glina-Dvor border crossing, detour: Glina (DC37)-Petrinja-Hrvatska Kostajnica-Dvor; -on the DC25 Lički Osik-Karlobag state road (at 40th km) 8am-3pm till 24 March. Traffic is regulated by traffic signals/one road lane is free only:-on the DC1 state road at Tušilović and Mostanje; -on the DC1 Sinj-Klis Grlo state road at Dicmo; -on the DC8 Adriatic road at Poličnik, on the section Kaštel Stari-Kaštel Gomilica, at Podstrana, on the section Zaton Doli-Bistrina, at Srebreno; -on the DC66 Pula-Most Raša state road; -on the DC75 Poreč detour road, section Vrvari-Bijela; -on the DC62 Veliki Prolog-Metković state road at Most Metković. 15 November 2016-15 April 2017 winter equipment is mandatory on the winter sections of the state roads in Croatia (it includes four winter tyres or four summer tyres with chains ready for use).
    Read more
  • In the outbound freight traffic there are delays at Bregana (the queue is 800 m), Rupa (2 km) and Pasjak. Due to roadworks at Županja and Slavonski Brod border crossings delays can be expected. At Harmica border crossing traffic is allowed for vehicles up to 7,5 tonnes only.
    Read more
  • Ubli-Vela Luka-Hvar-Split catamaran does not operate. Jelsa-Bol-Split catamaran does not stop at Bol and Jelsa ports. Ferries operate according to timetable.
    Read more

Interview of the week

mod send your news

Photo galleries and videos