GAS TERMINAL WILL BE IN JADRAN: Croatia will finish construction by 2018!

Croatia intents to finish the construction of a floating terminal for liquid nature gas in the north Jadran in 2018, and the starting capacity would be around 2 billion cubic meters of gas per year, stated the Croatian Minister of Economy Tomisla Panenić. 

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- It doesn't mean we are giving up on land terminal but, in this moment we consider that we can secure stability of the market with floating terminal - said Pantelić for Reuters agency in an interview.

First plans included, as the British agency reminds us, a land terminal capacity of around six billion cubic meters of gas, with the aim of supplying countries of central and eastern Europe.

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Foreign investors, including some from the USA, showed interest for the terminal on the Krk island, and it is expected that the negotiations about financial details will be accelerated up in the following months.

According to the Croatian agency Hina, Pantelić cited that Croatian Electric company (HEP) plans to invest around 3.6 billion kuna (around 478 million Euro) for modernization of the object and increasing the capacity of the power generation in hydroelectric power plants.

His words were that the government could emit between 10 and 25% of the shares if the company finds "the suitable partner, who could make HEP into a great regional player".

Minister also said that official Zagreb wants to reopen the discussion with Hungarian MOL about Ina.

- I cannot guarantee that this will occur before the summer, but the government is working on it's negotiation position. We want to focus primary on the investment and improving management of Ina - he explains.

Croatia, which possesses around 45% of Ina, and MOL, which possesses 50%, for years now don't agree concerning management rights and investments in Ina, Reuters reminds.

(Telegraf.co.uk/Tanjug)