First Polish LNG Import Terminal to be Built

Poland's first liquefied natural gas import terminal will be built by a consortium led by Milan-based Saipem SpA at the Baltic port of Swinoujscie for Polish natural gas distributor Polskie Gornictwo Naftowe i Gazownictwo. Construction of the euro 950 million ($1.16 billion) begins in September and should be complete in 2014, according to Industrial Info Resources.

The LNG terminal will include an unloading jetty for large vessels, two storage tanks and related infrastructure, IIR said. The London-based European Bank for Reconstruction and Development has agreed to loan euro 200 million ($244 million) to fund the project. The remaining funding necessary will be raised by selling Polskie LNG bonds. Poland intends to use this facility to reduce its dependence on natural gas from Russia, IIR said.