EU earmarks 278mn euros for four new LNG import terminals

LONDON: The European Commission has earmarked 278 million euros ($325 million) for four liquefied natural gas (LNG) import terminals due onstream between 2018 and 2020, a Commission spokesperson said on Tuesday.

Poland's LNG import terminal that came onstream in 2016 had already received 332 million euros, the spokesperson said. Last week, US President Donald Trump and EU Commission President Jean-Claude Juncker vowed to increase trade in LNG.

EU financing programmes will disburse 50.8 million euros to an LNG terminal expansion in Greece, 124 million euros for one on the island of Krk in Croatia and 101.2 million euros for a Cyprus project.