Polskie LNG to Conduct Feasibility Study on Terminal Expansion

October 4, 2012

Polskie LNG inquired the largest advisory companies in Poland about the possibility of conducting the LNG Terminal’s functionality expansion feasibility study.

Polskie LNG Company, whose main objective is to construct and further to operate the liquefied natural gas (LNG) terminal in Świnoujście intends to analyze additional functionalities the new Polish facility could offer to its future clients. For this reason a special study will be commissioned to provide answers to key questions about the directions for development of the infrastructure constructed in Świnoujście.This elaboration along with its conclusions will provide reliable information to facilitate the decision-making process regarding the possible expansion of the terminal’s functionality.

It is assumed that the capital designated for the construction of the LNG terminal ought to be fully exhausted to bring the greatest returns in the future. The terminal is expected to play an important role on the energy map of Poland and the entire region, offering its clients a wide range of business opportunities. If the LNG terminal is to be perceived not only in terms of its basic functionality – receiving and regasification of LNG – we need to prepare an appropriate knowledge base to offer the products that meet market expectations in the future – said Rafał Wardziński, CEO of Polskie LNG.

The global LNG market has increased 65-fold in the period from 1971 to 2011. While the annual rise in natural gas production amounted to 3.9%, the LNG production increased as much as 14.6% per year. Currently, the LNG market comprises over 32% of global trade in natural gas. In parallel to the increase in production and the growing share of LNG in the global gas market, new possibilities for its use have been developed. The feasibility study will include an analysis of LNG market growth opportunities in Poland, as well as it will address specific issues such as an optional expansion of terminal infrastructure for handling LNG rail tankers / tank trucks and the use of LNG as ship fuel. Additionally, the study shall examine the functionalities that are already successfully implemented in existing terminals around the world.

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LNG World News Staff, October 04, 2012; Image: Polskie LNG