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Policy & Regulation

Krk LNG leaps forward after Brussels approves state aid

The Croatian FSRU project cleared what was probably its final major hurdle on Wednesday after the European Commission announced it had approved a national grant of €100 million The Croatian FSRU project cleared what was probably its final major hurdle on Wednesday after the European Commission announced it had approved a national grant of €100 million.
By Andreas Walstad 31 July 2019 Europe & Russia / LNG 0 34450
The Croatian island of Krk. (Berthold Werner/Flickr)

Croatia’s Krk FSRU project has taken a major step towards completion in 2021 with the announcement by Brussels that a €100 million ($111.5 million) grant provided by the Croatian government was in line with EU state aid rules.

National subsidies for energy projects are subject to approval by the European Commission, which assesses their compatibility with EU guidelines. The guidelines stipulate that national grants should be kept to a minimum and not distort competition.

In a statement, the...