Americans Interested in LNG Terminal in Krk and Gas in the Adriatic

American investors are interested in energy projects in Croatia, such as the LNG terminal in Krk and the exploration and exploitation of gas in the Adriatic Sea, stated Minister of Economy Ivan Vrdoljak after today’s meeting with the Deputy Assistant Secretary for Energy Diplomacy of the United States, Amos Hochstein.

Today’s meeting was a continuation of discussions from April in Washington, where we presented the strategic interests and energy goals of the Government, and today Amos Hochstein could see that we have fulfilled everything we said we would do in the implementation of the energy strategy to make Croatia an energy regional hub, said Vrdoljak.

According to him, the strong interest of American investors in the energy business in Croatia confirms the correctness of the Government’s energy policy and strategy.

When asked whether American companies would invest in the LNG terminal in Krk, Vrdoljak replied that he had spoken with representatives of many American companies interested in the supply, construction, and trade of gas from LNG. He added that the next step is to build a sustainable business model and make LNG more realistic and feasible.

“Yes, they are expressing interest, after the feasibility study we are moving towards finalizing the business model, negotiations, and signing contracts for construction,” said Vrdoljak.

When asked when the LNG terminal could be built, he said that it has been shown that politics often presented unrealistic deadlines.

“LNG will be built when the business model is sufficiently feasible and when the market indicates that there is a need for it, and we need to show that the state is efficient, fast, and knows how to strategically manage its resources and potentials,” said Vrdoljak.

He added that, in addition to LNG, the topic of today’s discussions also included gas exploration in the Adriatic and the IAP gas pipeline.

Amos Hochstein stated that the discussions were good and in line with the good relations between the two countries.

“We particularly discussed cooperation in the field of energy security and the development and formulation of energy strategy. The discussions were good and we expect their continuation,” he said.

When asked for a comment on MOL’s assessment that the calling of MOL’s CEO Zsolt Hernadi to testify, whom the Croatian judiciary suspects of having bribed former Croatian Prime Minister Ivo Sanader, is an intimidation of MOL and its leader, and how to continue negotiations between the Government and MOL regarding INA in that atmosphere, Ivan Vrdoljak replied that he would adhere to the Government’s framework for negotiations and what was agreed upon at the first meeting between the Government and MOL representatives.