Croatia has ambitions to become the energy gateway for the European Union as it continues to develop several energy initiatives.
Maroš Šefčovič, European Commission vice president, leading the Energy Union project, said in a speech at the New Croatian Energy Strategy conference that EU has financially supported several energy projects in the country, including a new heat and power plant, as well as a new grid project.
The EU has invested funds of more than €100 million in the Krk LNG terminal and earlier this week an additional €16 million was approved for its pipeline.
Šefčovič said: 'This is great news for Croatia, which will be able to import gas and export to its neighbours.
'It is great news for the region which will see more competition (meaning higher security and lower prices). And it is great news for Europe, which will have more gas available to replace more CO2 intensive energy resources.'
He concluded: 'Croatia does indeed have a tremendous role within the Energy Union.'
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