LNG Hrvatska (LNG Croatia), the operator of the country's liquefied natural gas (LNG) terminal on Krk island, will receive a grant of 25 million euro ($26 million) under the European Union-sponsored national Recovery and Resilience Plan (RRP) for a planned capacity increase, the Croatian economy ministry said.
This project is strategically important to ensure the security of gas supply at the EU level, the ministry said on Thursday in a press release.
The overall value of the project is 46.1 million euro, it added.
The expansion will involve the installation of an additional regasification module with a capacity of 250,000 cubic metres per hour, which will be integrated with the existing module on the LNG Croatia floating storage regasification unit vessel at the Krk LNG terminal.
In April 2023, LNG Croatia and Norway-based supplier of cargo handling and reliquefaction systems Wartsila signed a deal for the procurement of the additional regasification module worth 22.97 million euro.
LNG Hrvatska has said that the installation of the new module will allow the company to boost the capacity of the terminal to 6.1 billion cubic metres of gas per year from the current 2.9 billion cubic metres.
The floating LNG terminal on Krk island started operating in January 2021. It delivers natural 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.
(SeeNews, December 20, 2024)
