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07 September 2015
The Krk liquefied natural gas (LNG) terminal project is progressing well. The project foresees the construction of an LNG terminal for the receipt, storage and regasification of liquefied natural gas on the island of Krk, with a nominal annual capacity of 6 billion cubic metres. It received European Commission support as a priority project within the EU energy strategy.
Financial, technical and legal consultancy was awarded to a consortium of Croatian, Italian and Netherlands PwC subsidiaries following a tender in December 2014.(1) An open-season procedure for parties interested in leasing the terminal capacity concluded in May 2015 and attracted 12 applicants. An open procurement process for services for tender documentation and consultancy for construction contracts was announced in July 2015.(2) In the latest development, future operator LNG Croatia Ltd (established for the realisation of the project) announced a call for equity in August 2015.
The call for equity is intended to attract potential industrial and pure equity investors to the project. The equity procedure should ensure financing of the project, but is also likely to affect the ownership structure of LNG Croatia Ltd.
The call for equity includes three main steps:
The timeframe for the tender is as follows:
The international tender procedure will take place separately and independently from the call for equity process.
For further information on this topic please contact Miran Macešic or Ivana Manovelo at Maćešić & Partners by telephone (+385 51 215 010) or email (firstname.lastname@example.org or email@example.com). The Maćešić & Partners website can be accessed at www.macesic.hr.
(1) For further details please see "Tender seeks advisors for LNG terminal construction preparations".
(2) For further details see "Second quarter oil and gas update".
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