Initially the deadline for closing the second round of the Open Season procedure was 3rd of August 2018. Since LNG Croatia received requests from interested terminal users to extend the submission deadline, LNG Croatia ended up to a new time plan for the completing of the Open Season procedure.

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Considering that interested terminal users are still negotiating with potential LNG suppliers and that finalising negotiations about LNG supply is key for finalizing binding offers, the deadline for the binding offers submission will be on 28th of September 2018.

During June, Croatia gave the green light to the construction of an LNG terminal on the island of Krk. Namely, the country passed a law, enabling the construction, which will be partly funded by the EU.

According to Reuters, the terminal, which will be built on the island of Krk in the northern Adriatic Sea, is considered as an attempt by the European Union to diversify away from Russian gas imports.

The project will consist of two stages. Firstly a floating terminal will be built, followed by an onshore facility.

LNG Hrvatska, the company behind the project, informed that  the cost of the floating terminal will be 250 million euros, while its capacity will ensure its profitability.

The EU will provide 101.4 million euros for the project, with the remainder being financed from equity and loans.

The terminal aims to supply gas to countries in eastern and central Europe, which depend heavily on Russian gas.

Croatia's energy and environment ministry noted that the terminal will not endanger neither the environment nor the tourism.