LNG Croatia last week concluded a call for public investment into the company and received a total of seven offers from investors according to reports. 

Four of the bids came from within the industry while three came from financial investors. The initial call for investment into LNG Croatia came back in July of last year, with the deadline for bids extended from 15th December to 31st December.

LNG Croatia stated that the interest shown in the project proves there is a recognised importance for an LNG terminal on the Island of Krk, located off the Croatian coast.

The procedure for looking for finance was carried out in accordance with the schedule agreed with the European Commission and with EU Directives.

The total cost of the project could exceed €1 billion and is high on the list of the European Strategy for Energy Security. The capacity of the terminal will be twice Croatia’s current needs. The eventual aim for the terminal, is to create an alternative supply of gas, not only for Croatia, but for the entire region.