The European Commission gave the green light for spending of up to €211m from the Infrastructure and Environment Operational Programme (IaEOP) for the implementation of building of a re-gasification terminal in Swinoujście. The Commission’s decision is the final step to sign a project financing agreement by Polskie LNG. The non-refundable funds obtained in this way will enable to reduce the costs of the LNG terminal construction. As a result, they will also affect to lower the re-gasification services tariff, and thus - imported gas. The total amount of grants obtained so far will constitute 45% of costs of the terminal.
The terminal will be constructed in Swinoujscie on the area dedicated for the development of the Swinoujscie port. The terminal will allow Poland to off-take up to 5 bcm of natural gas annually with the possible expansion up to 7.5 bcm (currently Poland consumes about 16 bcm of gas annually). The construction of the LNG terminal in Swinoujscie is to be completed by mid-2014.
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