Poland's ZA Pulawy Wants To Join LNG Project
by AFX News Limited
April 23, 2008
Polish fertilizer maker Zaklady Azotowe Pulawy
wants to work with PGNiG on setting up a liquified natural gas (LNG) terminal on
the Baltic coast as it seeks cheaper supplies of gas, its chief executive was
quoted as saying.
State-controlled PGNiG wants to build an LNG terminal in Swinoujscie by the
end of 2011 and will buy 2.5 billion cubic meters of liquefied gas per year as part
of Poland's strategy to limit its dependence on imports from Russia.
"PGNiG is working on the LNG terminal," Pulawy Chief Executive Pawel
Jarczewski told newspaper Puls Biznesu in an interview. "We want to ask them if
we could become a partner in the Polskie LNG venture."
Jarczewski said the company wants to improve its production efficiency,
which should bring 100 million zlotys in savings. Pulawy's earnings have boomed
in recent quarters as rising food prices have boosted demand for fertilizers.
Copyright 2008 AFX News Limited. All Rights Reserved.
Polskie LNG (PLNG)
PGNiG SA (Polish Oil & Gas Co.)