Polish Toledo

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Wednesday, August 06, 2014

LNG Terminal behind schedule

It's over due and over cost but Poland’s plan to have a liquefied natural gas terminal ready by mid-2015 is an urgent matter to cut its reliance on gas imports from Russia.

The terminal at the northwestern port of Swinoujscie, originally scheduled for completion in June, will allow Poland to import as much as 5 billion cubic meters of gas by sea, or about a third of its annual usage. The country now imports about 10 billion cubic meters from Russia. 

Poland is also speeding up development of domestic shale gas deposits and expanding links to other neighbors to further diversify supply before its contract with  Gazprom expires in 2022.

The project has suffered cost overruns since a group of companies led by Italy’s Saipem SpA, which also includes Poland’s PBG SA, won the contract in 2010. Poland agreed to pay 13 percent more than originally budgeted last year, bringing the terminal’s cost to 2.37 billion zloty ($762 million).


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