More bidders for LNG terminal's capacity expected by May

More bidders for LNG terminal's capacity expected by May

More bidders for LNG terminal's capacity expected by May Izvor: Nel Pavletic/PIXSELL

The state company LNG Hrvatska, tasked with operating the yet to be built liquefied gas terminal on the northern Adriatic island of Krk, said on Monday it expected gas traders to show a more active role in leasing storage capacities at the terminal in the later stages of bidding.

The statement came after the first call of offers, which ended on April 8, yielded little interest according to media reports. The company told HINA news agency they would not comment the results of the first round of the tender, which they said was a test to see the market's potential and competition.

The tender's second round is expected to end by May 6, and if necessary, it will be followed by a third round lasting until May 23, CEO of LNG Hrvatska, Goran Francic, said.

"Only after the final round is finished, the results will be published on May 28, and only then will we be able to talk about how successful the project is. There is also the option of extending deadlines in each individual round, in case bidders request it and we decide to accept it," said Francic.

The Jutarnji List daily, citing two unnamed sources, said on Saturday that LNG Hrvatska only received a single offer for the lease of the future terminal's storage capacity, for only 100 million cubic metres of gas per year, out of the total projected capacity of 2.6 billion cubic metres. The Novi List daily cited an unnamed source saying that "there were more than one bids, but not by much."

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