The EU will invest €101.4 million in the construction of a LNG terminal in Krk, Croatia.
The €101.4 million grant will contribute towards the overall estimated costs of €383.6 million.
The LNG terminal will first operate as an offshore floating storage and regasification unit with a yearly capacity of at least two billion m3. It will increase the security of gas supply in central and south eastern Europe.
It will also improve the competitiveness in the region and, as a priority project under the Central and South Eastern Europe Energy Connectivity initiative.
Commissioner Miguel Arias Cañete says: 'This investment will not only allow for the supply of natural gas to Croatia and Hungary: it will also increase the diversification of energy sources of central and south eastern Europe, and give an economic lift to the region.'
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