PGNiG says to build LNG terminal without partner

PGNiG says to build LNG terminal without partner - report

Poland's natural gas monopoly, PGNiG, wants to build a liquified natural gas (LNG) terminal without a partner and 'sees chances' it will sign a supply contract for the project by the end of 2007, a company official was quoted as saying.

PGNiG plans to build an LNG terminal in Swinoujscie on the Baltic coast by the end of 2011 and will buy 2.5 bln cubic metres of liquified gas per year as part of Poland's strategy to limit its dependence on imports from Russia.

A PGNiG official was quoted as saying last week the construction of the terminal will cost more than the initially planned 450 mln eur.

'We are planning to build a liquified gas terminal on the Baltic coast,' Tadeusz Zwierzynski, the PGNiG official in charge of the project, told daily Rzeczpospolita. 'The company set up by PGNiG for that project will be the sole investor.'

Gaz de France and Spain's Repsol have both expressed interest in cooperating with PGNiG on building the terminal.