Croatia has plans to invest $182.32m (€180m) to construct a new gas pipeline as well as to increase capacity at its liquefied natural gas (LNG) terminal by more than double, reported Reuters.
Estimated to cost € 155m, this new gas pipeline will link the towns of Zlobin and Bosiljevo in the north western part of the country.
Go deeper with GlobalData
Countries in Europe have been trying to cut down reliance on Russian gas following Moscow’s military incursion on Ukraine, reported the publication.
Post investment, the annual capacity of the floating LNG terminal, located on the northern Adriatic island of Krk, will increase from 2.6 billion cubic metre (bcm) to 6.1bcm.
This floating LNG terminal started its operation in January last year.
See Also:
Besides Croatia, it supplies gas to countries in central Europe including Hungary.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataCroatian Energy Minister Davor Filipovic said that the government has plans to secure gas supplies, state news agency Hina reported.
However, timeline for the projects has not been announced.
Besides allocations from state budget, Croatia plans to tap funds from European Union to invest on the projects.
———————————————————————————————————————
Image: The new gas pipeline will link the towns of Zlobin and Bosiljevo of Croatia. Credit: Jim Black from Pixabay.
