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Updated January 2nd, 2021 at 04:47 IST

Croatia: Floating LNG terminal on Krk becomes operational

According the Croatia's state broadcaster, the capacity of the terminal has been sold out for the next three years.

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A floating LNG (Liquefied Natural Gas) terminal became operational Friday, based off the island of Krk, in the Republic of Croatia.

The terminal was funded by the European Union, having been awarded a grant of EUR 101.4 million (123,03 USD).

According the Croatia's state broadcaster, the capacity of the terminal has been sold out for the next three years.

The terminal, which has the capacity of 2.6 billion cubic meters per year, is of a strategic and geopolitical importance for Croatia and the European Union.

It could strengthen the European energy market and increase the security of gas supply to EU countries.

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Published January 2nd, 2021 at 04:47 IST

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