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7 Bids Received to Build LNG Terminal on the Island of Krk

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A total of seven bids had been received to build a liquefied natural gas (LNG) terminal on the Croatian island of Krk in the northern Adriatic, Reuters reported on Monday…

LNG Croatia, a joint venture between power utility HEP and gas system operator Plinacro, said on Monday that four bids from industrial investors and three bids from financial investors had been received.

The terminal, which will have a nominal capacity of 6 billion cubic metres and help Croatia reduce its reliance on Russian gas imports, is expected to be complete by mid-2019.

The proposed terminal would be able to receive, store and re-gasify LNG, opening Croatia up to imports from LNG suppliers such as Qatar, Reuters said.

“All potential investors are world-class companies/funds with strong backgrounds in gas industry and financial businesses. The evaluation process by legal and financial advisers and technical experts begins,” it said, without naming the bidders,” the company said in a statement.

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