The gas terminal on Krk is not a new idea, but it was only recently placed among the strategic projects of the Croatian government. It is believed that it could boost energy independence of both Croatia and Slovenia.

The project is also of interest to the US and the EU, mostly because of the strained relations with Russia as the main supplier of gas to a majority of European countries, and the fact that the South Stream gas pipeline project is now uncertain given the EU sanctions against Russia.

The Croatian government believes that the planned gas terminal, located near the country's biggest sea port of Rijeka, will play an important role in the EU energy policy in this part of Europe.

"If we managed to cooperate in developing and operating the Krško Nuclear Power Plant for 40 years, I see no reason why we would not be able to cooperate in other fields of energy, such as gas," Volk told the STA on Tuesday.

According to him, there is a possibility that the terminal gets connected to the Slovenian gas pipeline system.

Croatia is expected to start collecting bids from potential investors in November, while the terminal is planned to become operational within the next five years.

Volk and Vrdoljak assessed that chances are good for Croatia and Slovenia to secure financing from the EU funds with a joint effort as the European Commission has already expressed readiness for financing of the project estimated at EUR 630m.

The Croatian minister and Volk also talked about the trade between the countries, which reached EUR 1.4bn in the first half of the year. Slovenia's exports to Croatia were up by 23%, while imports from Croatia were up 18%, according to Volk.