Croatia’s floating liquefied natural gas (FLNG) terminal should be operational by the end of 2018, the country’s Minister of Economy, Tomislav Panenic says.

Panenic told local media that the project is of strategic importance and that it was strongly supported by the European Commission, adding that its implementation is scheduled to start shortly.

The vessel is to be located in the northern Adriatic, and will have an initial capacity of approximately 2 billion m3/yr, Reuters reported.

The decision to opt for an FLNG terminal instead of an onshore terminal was announced earlier this year as the country’s government looks into options to speed up the construction of this long-overdue project.

The FLNG would reduce the construction costs and take only two years to bring to fruition, instead of at least five years it is required now to construct the terminal on the island of Krk, as explained by First Deputy Prime Minister of Croatia, Tomislav Karamarko.

The LNG Krk, Croatia’s first LNG import terminal, was supposed to have a throughput capacity of 6 Gm3/year and include a tanker jetty to accommodate the LNG carriers, 2 LNG storage tanks with a total storage capacity of up to 360 000 m3 LNG, vaporisers and ancillary equipment.