LNG Croatia, the developer of an LNG import terminal project co-financed by the European Union, received few binding bids for terminal capacity, but it still plans to move on with testing the viability of the project.
The developer said it received binding bids for 520 million cubic meters of capacity during the second round of its open season for the project, plus an additional 300 million cubic meters of capacity in nonbinding bids. The deadline of the open season has been extended twice this year, at the request of potential shippers, according to LNG Croatia.
With the open season's closing, LNG Croatia now looks to conduct an economic test for the project based on the bids it collected. The project's final details will depend on the results of the test, according to a Dec. 21 notice. The maximum annual delivery of gas in the first stage of the project is projected at 2.6 billion cubic meters.
The LNG project will involve the construction and operation of receiving, storage, reloading and regasification infrastructure on the Island of Krk, Croatia, in the north Adriatic Sea.