November 4, 2011
Advanced Search
Home / News / Today's Headlines / European Commission backs Poland’s LNG Terminal

10.10.2011

European Commission backs Poland’s LNG Terminal

The European Commission has decided to award Poland some 925 million zloty (211.1 million euros) towards the construction of an LNG terminal at Swinoujscie in north west Poland.

The terminal, designed to off-take and re-gasify liquefied gas, constitutes a major energy project for the Polish government.

State-owned company Polskie LNG has cited the project as an opportunity “to diversify the directions of natural gas supply, which for Poland shall mean an improvement of the country’s energy security.”

Construction of the facility began in March this year, and the EU grant - which does not have to be repaid– takes the investment fund to 45 percent of the necessary cost of the terminal.

In November 2010, the project received an initial grant – also non-repayable – of 55 million euros (241 million zloty).

Besides aiding Poland to diversify its supplies of gas, the project will also do so for the Czech Republic, Hungary and Slovakia.

There are nineteen such terminals in Europe at present, six of which are in Spain.

It is hoped that the Polish terminal will be ready to begin functioning in July 2014.

Copyright 2011, TVP. All rights reserved.

Back

Copyright © 2008 Eurasia Press, Inc. (USA). All rights reserved.
Web programming by Iflexion
Copyright © 2008 Eurasia Press (www.eurasiapress.com)