INA to join Adria LNG consortium with a 14 % stake

Oct 16, 2007 02:00 AM

The managing board of the national oil and gas company INA decided to participate in the consortium Adria LNG with a 14 % stake.
As recalled, at the beginning of October Austria's OMV and four other energy companies established the Zagreb-based company Adria LNG in order to study the construction of the liquefied natural gas (LNG) terminal on the island of Krk. The consortium comprises OMV Gas International with 25.58 % stake, German companies RWE (16.69 %) and E.ON Ruhrgas (31.15 %), French company Total (25.58 %), and Slovenian company Geoplin (1 %).

The managing board's decision has to be approved by the supervisory board of INA and only after that the company could sign the agreement with the remaining shareholders in Adria LNG.
Other Croatian companies will take part in the consortium too, namely the state-owned power utility HEP with stake of 10 % and the state-owned distributor of gas Plinacro with a stake of 1 %.

Source: Croatia Today
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