PGNiG Sticking with Plan To Build LNG terminal
by AFX News Limited
March 20, 2008
Polish natural gas company PGNiG "absolutely"
needs to build a long-planned liquified natural gas (LNG) terminal on the Baltic
coast, the company's new deputy chief executive was quoted as saying.
Officials from the ruling Civic Platform party have signalled since taking
power last year that they will review the 85-percent state-owned company's plan
to spend 440 million eur on the terminal and may even shelve the project.
Last week the state-dominated supervisory board picked company insider
Michal Szubski as its new chief executive and reshuffled the management board
appointed by the previous government.
"The LNG terminal is absolutely vital for the company and Poland. It seems
everyone is agreed on this, from politicians to engineers," new deputy chief
executive Miroslaw Dobrut told the Parkiet daily.
Dobrut is the first new member of the board to give a clear opinion on the
PGNiG wants to build an LNG terminal in Swinoujscie on the Baltic coast 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.
Copyright 2008 AFX News Limited. All Rights Reserved.
Polskie LNG (PLNG)
PGNiG SA (Polish Oil & Gas Co.)