Hungary makes bid to buy 25% stake in Croatia’s LNG terminal

Hungary has made a bid to acquire a 25% stake in Croatia’a LNG terminal on the Krk island, foreign economic affairs minister Peter Szijjarto announced on Apr 12, the state news agency MTI reported. The offer was valid on condition that Hungary is able to purchase gas from the terminal at a competitive price, Szijjarto clarified. Croatia has not yet given an unambiguous answer to that condition and will decide when it contracts gas for the terminal, he explained. Szijjarto ruled out that Hungary could buy more expensive gas than at present.

The total size of the LNG terminal project has been estimated at EUR234m and the EC will cover around EUR101m of this cost. It is not clear how much Hungary would have to pay in case the 25% stake purchase is agreed.

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