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Polskie LNG announces Świnoujście LNG terminal's expansion aims to meet the market demand

Wednesday, Nov 21, 2012

ŚWINOUJŚCIE, Poland, November 20, 2012 /PRNewswire/ --Polskie LNG Company, established to construct and operate the liquefied natural gas (LNG) terminal in Świnoujście (Poland), on November 20 th , 2012 launched a market research procedure (so-called Market Screening) to assess the demand for the technical expansion of the terminal and the provision of additional services.

The facility built in Świnoujście is the first infrastructure project of this kind not only in Poland, but also in Central and Eastern Europe. Its principal objectives include diversification of gas supply sources and improvement of energy security in the entire  region. The LNG terminal in Świnoujście is to be operational in the second half of 2014. In the first period of operations, the LNG terminal will receive 5 billion cubic meters of natural gas per year.

To meet the expectations of the prospective clients, Polskie LNG launched a Market Screening procedure to determine the future trading partners' potential preferences regarding the possible technical expansion of the terminal and the provision of additional services.

"Our business decisions ought to reflect the needs of the market. We assume that the capital invested in the construction of the LNG terminal shall be used most efficiently to bring the best returns in the future. We expect our terminal to play an important role not only on the energy map of Poland but also in the entire region of Central and Eastern Europe, offering the clients a wide range of business opportunities", said Rafal Wardzinski, the CEO of Polskie LNG Company.

The Market Screening procedure will provide information about the demand for increased regasification capacity exceeding the volume currently offered by the Świnoujście LNG Terminal, and the potential for commercial use of the tanks to provide LNG storage services. The market demand for other functionalities such as LNG truck cistern loading services, and the expansion of the plant infrastructure to provide the facilities for LNG rail cistern loading and reloading to smaller vessels, including LNG bunkering services will also be analysed.

Source: Polskie LNG Company

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