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Consortium sign Polskie LNG contract

LNG Industry,

Polskie LNG and the contractor, consortium Saipem S.p.A. (Italy), Saipem SA (France), Techint Compagnia Technica Internazionale S.p.A. (Italy), Snamprogetti Canada Inc. (Canada), PBG SA (Poland), PBG Export Sp. z o.o. (Poland).

‘The LNG terminal construction will make Poland independent in choosing the directions of natural gas supply as thanks to Poland we will be able to off-take gas by sea and realize the contract signed with Qatar. The LNG terminal construction is the first of its kind in this part of Europe’, said Alexander Grad, the Minister of the Treasury.

‘Owing to the terminal we will be able to off-take even 7.5 billion cubic meters of the natural gas in the future what will give approximately 50% of the annual demand for natural gas in Poland. The LNG terminal means not only energy security for Poland but it also gives new job opportunities.’ Said Zbigniew Rapciak, the Chairman of Polskie LNG.

The LNG construction was recognised by the government as a strategic project for the country’s energy security. The LNG terminal will be based in Swinoujscie in the area intended for port development. It will enable Poland to offtake 5 billion m3 of natural gas annually with the probable expansion of up to 7.5 billion m3.

‘The LNG construction together with the new gas pipelines and transboundary connections carried out by our company will enable other counties of Central and Western Europe to access the global LNG market by means of Polish industrial infrastructure,’ said Jan Chadam, the Chairman of GAZ-SYSTEM S.A.

The beginning of the construction is planned for the second half of 2010 and the works are to be completed by 30th June.

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