TRIESTE – LNG Croatia signed a financing agreement yesterday for the capacity expansion project of the LNG terminal on the island of Krk.
The €51.1 million project will increase the terminal’s regasification capacity to a maximum of 6.1 billion cubic meters per year. The goal is to strengthen the terminal’s capacity while enhancing the stability and security of natural gas supply in Croatia and neighboring regions.
The project involves the installation of a new regasification module on the FSRU unit “LNG Croatia”, along with the necessary equipment and integration into the existing system. The initiative will be co-financed with €25 million from the National Recovery and Resilience Plan (NRRP), while LNG Croatia will cover the remaining costs through its own resources.
The agreement was signed by Minister of Economy Ante Šušnjar, Director of the Environmental Protection and Energy Efficiency Fund Luka Balen, and LNG Croatia CEO Ivan Fugaš. “With today’s agreement, we’ve finalized the last steps needed to carry out the LNG terminal capacity expansion project. This agreement enables LNG Croatia, as terminal operator, to secure nearly 50% of the funds required to complete the entire project, which we are implementing in cooperation with Plinacro, the transmission system operator of the Republic of Croatia.
The terminal’s increased capacity,” said Ivan Fugaš, CEO of LNG Croatia, “enhances the security of natural gas supply not only for Croatia, but also for Central and Southeastern Europe. This positions Croatia as a key energy hub for this part of Europe and the entire continent. It is worth noting that just five years ago, we were at the bottom of the natural gas supply chain—and today we are becoming an industry leader.”
