Krk Confirmed As Location for Adria LNG, Says OMV Gas & Power

OMV Gas & Power has announced that the Croatian government has confirmed Krk, Croatia as the location of project Adria LNG.

The new liquefied natural gas (LNG) terminal will benefit the entire region via the expansion of the gas supply, said OMV Gas & Power. The decision by the Croatian government will also encourage the further development of the consortium and an agreement regarding the participation of Croatian partners can also be expected in the near future, added OMV Gas & Power.

Adria LNG is a proposed regasification terminal in Krk, Croatia for liquefied natural gas tankers with a combined volume of up to 265,000 billion cubic meters and will reach a capacity of approximately 10 billion cubic meters per year. The start-up is planned for 2014. The estimated investment costs amount to approximately E800 million.

Reinhard Mitschek, senior vice president of gas logistics at OMV Gas & Power, said: “Croatian companies provide the technical and economical expertise to successfully develop further projects with us. OMV Gas & Power is very interested in this promising partnership.”