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New LNG terminal for Croatia
Customers that need to ship freight to Croatia will be able to offload at a planned LNG terminal on Krk Island in a few years time. Plans to build an LNG terminal on Croatia's Krk Island received a boost recently as the LNG terminal has been given the environmental green light by the Croatian Ministry of Environmental Protection, after about a year of waiting for the process of approval to go through the required steps. This news is what the project team has surely been waiting for and it certainly brings the arrival of ocean LNG freight carriers at the planned LNG terminal for Krk Island a little closer. The next step for the project team is apparently to immediately send out an application to secure a permit for the planned LNG terminal.

This news is great news for the partners in this planned LNG terminal for Krk Island in Croatia, who might have been becoming a little worried about the delays in getting the environmental green light the project needed in order to proceed to the next stage of the development. This particular LNG terminal is being backed by the Adria LNG consortium, which includes players in the LNG market, like E.ON Rurhgas, OMV Gas and Power, and Total and Geoplin.

Sources near this project indicate that Krk Island was apparently selected for the site of the LNG terminal because of its proximity to the main suppliers of gas and local distribution networks in the region, along with its deepwater access for ocean LNG freight carriers. Reports also indicate that this particular LNG terminal is meant to supply customers in neighbouring Italy, Slovenia, Austria and Hungary.

What's the cost of a project of the scope and size of the planned LNG terminal for Krk Island in Croatia? Sources indicate that with current construction costs, along with the need to build pipeline infrastructure to support the terminal, is going to push the cost over $1 billion Euros.
Posted on 15 Nov 2010 by Momentum
LNG Freight Carriers Crossing Caspian Sea
Ocean freight carriers will be shipping LNG ocean freight across the Caspian Sea to an LNG terminal in Romania in the years ahead in the century of the environment. Sources around the ocean freight shipping industry indicate that Romania, Georgia, and Azerbaijan recently put pen-to-paper on a memorandum-of-understanding that will see them work together on an LNG project in the months and years ahead. An agreement that if it goes forward could mean significant economic gains for the regions involved and business partners that will be tasked with making sure the LNG freight makes it to its destination in a safe, reliable, and cost-effective manner.

Reports surounding this deal between Romania, Georgia, and Azerbaijan indicate that current plans would see gas from Azerbaijan shipped to Georgia, before being liqufied and then finally loaded on ocean LNG freight carriers and transported across the Caspian Sea to an LNG import terminal in Romania. Called the Azerbaijan, Georgia, and Romania Interconnection (AGRT), this project has been coming under fire of late by the world's ocean LNG freight carriers as a project that could end up being economically unfeasible.

The skepticism of the world's ocean freight carriers towards the economic feasibility of the plans of Romania, Azerbaijan, and Georgia to work together on this idea has apparently be noticed. The Romanian Minister of Economy, Trade and Business Environment commented the other day that AGRI's headquarters would be set up in Bucharest and would start by re-examining the original feasibility studies on the project that were conducted by Romania and Azerbeijan.
Posted on 12 Nov 2010 by Momentum

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