Adria LNG, initially a joint venture between E.ON Ruhrgas (31.15%), Total (25.58%), OMV (25.58%), RWE (16.69%) and Geoplin (1%), was formed in October 2007 to study the development of an LNG regasification terminal in Croatia.
Proposed for the island of Krk on the Croatian coast, the Aria LNG terminal will receive and vaporize LNG from a number of suppliers. It will distribute the natural gas to the European market through a new pipeline system.
Construction plans for the terminal include an LNG unloading dock, storage tanks, pumps, vaporizing equipment, temporary storage and a pipeline system linking the natural gas to existing pipelines. Construction is expected to take three years.
With an LNG capacity of 10 billion cubic meters per year, the terminal will accept approximately 100 LNG tankers a year. Additionally, the facility is being built with the option of increasing capacity to 15 billion cubic meters per year.
The total project cost estimates are approximately $1.5 billion; investment for the terminal alone ranges from $890 million to $1.2 billion. According to an October 20, 2009, Dow Jones Newswires article, RWE decided to withdraw from the project and offer its shares to the remaining partners. The final decision on whether to move forward with the Adria LNG terminal is expected sometime in 2010, according to the report. The terminal is expected to be operational by late 2014.