LNG Terminal on the Island of Krk with evacuation pipeline
The Project has the purpose to secure energy needs and increase security of gas supply through the provision of a new gas supply route for the Central and South-Eastern European countries.
The project has two main parts:
PART I - LNG terminal on Krk island: The proposed Project will include the building and operating of the infrastructure necessary for receiving, storing, reloading and regasification of liquefied natural gas. The technical capacity of the floating terminal will depend on the technical characteristics of the terminal, while the maximum annual delivery of natural gas is expected to be 2,6 billion cubic meters.
PART II – Gas pipeline Omišalj-Zlobin:
Gas pipeline is of nominal diameter 800 mm, with maximum operating pressure 100 bar, and length of 18 km. This project represents the first phase of the LNG Main Evacuation Pipeline, it connects the LNG on the island of Krk with CEE countries. Gas pipeline Omišalj-Zlobin would enable the transport of gas from the LNG terminal in the direction of Hungary by the existing 75-bar transmission system. Implementation of this project along with the Compressor station 1 at the Croatian gas transmission system would enable transport of the LNG terminal maximum capacity in the amount of up to 2.6 bcma.
- will be in operation in Q4 2020Planning
PART II - Gas pipeline Omišalj-Zlobin: construction will be finished in Q4 2020, the commissioning will be carried out by the end of 2020 or in the beginning of 2021
PART I – LNG terminal on Krk island Total investment costs (excluding capitalized interest and fees during construction) are estimated to a limit of 230 mil EUR, including:
FSRU vessel procurement: 160 million EUR, EPC onshore construction: 60 million EUR, Land: 10 million EUR. The assumed financing structure is the following: EU Grant, which is envisaged currently to 27.92% of allowable CAPEX limited to 101.4 million EUR. Equity/debt share is currently assumed at 30:70 and could be further considered. Final equity/debt share will depend on shareholders negotiations with potential lenders. Debt is expected to be provided by a reputable institutional investor. Currently, a 17 years loan was assumed, including 2-year construction + 1-year grace (principal only, interest to be paid) + 14-year repayment (semi-annual repayments, equal principal annuities
PART II – Gas pipeline Omišalj – Zlobin:
Total cost:58 mil EUR; Plinacro applied for the grant from the Connecting Europe Facility (CEF) and concluded with INEA a Grant agreement in the total amount of EUR 16.433.500 which equals 50% of the eligible costs stated in CEF application. Other source of financing: own sources and a loan.