BAKU: Croatia is working on financing the Ionian Adriatic Pipeline (IAP), a source at Croatian Ministry of Economy and Sustainable Development told Trend.

“As mentioned earlier, positive feedback from the Montenegro government was received and we hope to proceed with the IAP project in the course of this year. We also had discussions with Bosnia and Herzegovina while Plinacro prepared all the necessary permits for the Croatian part of IAP. We are still working on financing and that should be resolved in time,” the source said.

At the same time, the source noted that Croatia talked to representatives of SOCAR Balkans to discuss the possibilities for gas from Azerbaijan to be transported to Croatia in smaller volumes, but those negotiations are still in the preparation phase.

“It is important to highlight that IAP is important for Croatia and we will continue the dialogue with all our partners to ensure that the project would be implemented in short time and would boost decarbonization while bringing gas to
Montenegro and Bosnia as a first step of crude fossil fuel phase-out,” added the source.

Ionian Adriatic Pipeline can be connected to the Trans Adriatic Pipeline (TAP) to transport gas to many countries in South-East Europe. The pipeline with total length of 516 kilometers will stretch from Albania through Montenegro, and Bosnia and Herzegovina, to split in Croatia.

The capacity of the pipeline will amount to five billion cubic meters of gas per year.

Source: Trend News Agency