PGNiG May Delay LNG Terminal Plans - Report
by AFX News Limited
December 03, 2007
Poland's natural gas monopoly PGNiG might delay
its plan to build a liquefied natural gas (LNG) terminal on the Baltic coast due
to failures to sign supply contracts, Dziennik newspaper reported, giving no
The paper said new Treasury Minister Aleksander Grad has ordered analysis of
the project along with PGNiG's other major investment - the construction of the
Baltic Pipe pipeline connecting Poland to Denmark.
PGNiG has planned to build an LNG terminal in Swinoujscie on the Baltic
coast by the end of 2011 and receive 2.5 billion cubic meters of liquefied gas per
year as part of Poland's strategy to limit its dependence on imports from
The company has been looking to secure liquid gas supply for the terminal,
which may cost at least EUR450 million to build. But its talks with Algieria have
stalled, the newspaper said.
"It takes between six and seven years to recieve first supplies (of gas)
after the contract has been signed," the daily quotes ruling Civic Platform deputy
Andrzej Czerwinski as saying.
"Without stable supplies it doesn't make sense to build the terminal,"
Czerwinski, who is also a deputy head of parliament's economy committee, added.
Copyright 2007 AFX News Limited. All Rights Reserved.
Polskie LNG (PLNG)
PGNiG SA (Polish Oil & Gas Co.)