EIB Supports Polish LNG Terminal

The European Investment Bank (EIB) is providing a PLN 600 million (approx. EUR 135 million) loan to support the construction and operation of the first Polish LNG terminal in Swinoujscie on the Baltic Sea coast.

The loan of PLN 600 million will finance the construction and operation of the new liquefied natural gas (LNG) import terminal, which is fully in line with EU and Polish energy policy objectives of supporting priority trans-European energy network projects that contribute to the diversification of natural gas supplies. This will help both to improve the security of the energy supply to and within the EU and to increase competition in the Union’s energy markets.

The new LNG terminal will be located on the eastern bank of the Swina River in an area that is earmarked for the development of the existing Swinoujscie port about 4.5 km from the Polish-German border. It will be completed by the end of June 2014 and have a throughput capacity of 5 Gm3/year, which corresponds to more than one third of the average annual natural gas consumption of the Polish economy.

[mappress]

LNG World News Staff, December 16, 2011