Croatian deputy PMs discuss LNG terminal project with US energy envoy

Croatian First Deputy Prime Minister Tomislav Karamarko and Deputy Prime Minister Bozo Petrov met separately with the US State Department's Special Envoy and Coordinator for International Energy Affairs, Amos Hochstein, during his visit to Zagreb on Wednesday for talks on  Croatia's position on the energy map of Southeast Europe and the European Union, a government press release said.

Karamarko and Hochstein agreed that the LNG project on the northern Adriatic island of Krk was of mutual interest to both Croatia and the United States.

Given that the previous Croatian government had hesitated about making key decisions on the construction of the LNG terminal, Karamarko said that this government would treat the project as a top priority, the press release said.

Karamarko said that initially it would be a floating terminal because it would cost less and would be easier to build, and that it could become a fully functioning terminal within a period of two years.

The US pledged assistance in building a gas transport system in order to integrate the LNG terminal into the existing network in Croatia, according to the press release.

Petrov and Hochstein also discussed energy projects, agreeing that the LNG terminal on Krk island was a project of special interest to Croatia, the United States and the European Union. They talked about building a floating terminal as a transitional solution before a larger-capacity land terminal was built.

The construction of a floating terminal within a span of two years would ensure diversification of supply routes and increase the security of gas supply in Southeast Europe, the press release said.

Last update: Tue, 28/06/2016 - 17:25
Author: 

More from Business

British regulator fines Pfizer 84 million pounds for overcharging

A British government regulator fined global drugs giant Pfizer a record 84.2 million pounds (106.4 million dollars)...

Ikea's yearly profits jump by almost one-fifth to 4.2 billion euros

Swedish furniture retailer Ikea's full-year net profit rose 19.6 per cent to 4.2 billion euros (4.5 billion dollars...

EU fines bank trio 485 million euros for fixing rates

Credit Agricole, HSBC and JPMorgan Chase are being hit with a fine totalling 485 million euros (520 million dollars...

Electric car manufacturer Tesla recalls charging adapters

US electric car manufacturer Tesla on Tuesday issued a recall of charging adapters for its electric cars which could...

Trump says Japan's Softbank will invest 50 billion dollars in US

US president-elect Donald Trump said Tuesday that Japanese telecommunications giant Softbank will invest 50 billion...