LNG Croatia, the company responsible for the development of an LNG import terminal project on the northern Croatian island of Krk, has received seven tenders from potential investors to develop a terminal for receiving, storing and re-gassifying liquefied natural gas on Krk.
Of those seven bids, four have been made by industrial investors who had to submit their bids by 30 November, and three are from financial investors for whose bids the deadline expired at noon today, according to a press release issued by the LNG Croatia company on Thursday.
The entire procedure for the participation in the selection of investors was performed in the form of an international tender procedure, in compliance with the EU requirements and directives and within the legal framework of Republic of Croatia.
The estimated value of the future LNG terminal is 600 million euros and the entire project will reach a billion euros with the construction of gas pipelines and the necessary pumps.
The LNG terminal was included in the European Energy Security Strategy.
LNG Croatia expects construction to begin in mid-2016 and to last three years.
Croatia consumes 2.7 billion cubic metres of gas every year, while the terminal's capacity will be between four and six billion, meaning that, apart from supplying Croatia, it should supply gas to the countries in the region and the EU.