Poland Cuts Imports!
Poland aims to alleviate dependence on natural gas imports from Russia by accelerating construction on a liquefied natural gas import terminal.
The move has gained attention following the recent agreement signed between Russia and Germany to construct the North European Gas Pipeline, which would run directly from Russia to Germany under the Baltic Sea, bypassing the Baltic States and Poland.
Polish gas monopoly PGNiG is evaluating how to link up with Gaz de France to construct a $621 million facility with a capacity of 177 billion cubic yards annually, PGNIG`s Chief Executive Marek Kossowski said.
'In October, we want to sign a letter of intent to build an LNG terminal on the Polish coast,' Kossowski said. 'The investment could begin at the end of 2006 and we will choose from one of three firms including Gaz de France.'
The Polish gas monopoly is looking to build the facility near Gdansk or Szczecin on Poland`s Baltic coast. Because Russia currently supplies Poland with some 75 percent of its gas needs, Poland looks toward securing its energy security by diversifying imports.