Polish PGNiG In Advanced Talks With 3 Potential LNG Suppliers

Polish PGNiG In Advanced Talks With 3 Potential LNG Suppliers
Πεμ, 10 Ιανουαρίου 2008 - 06:41
Polish gas company Polskie Gornictwo Naftowe i Gazownictwo, or PGNiG (PGN.WA) is in advanced talks with three potential suppliers of liquified natural gas for the regasification terminal to be built by the end 2011, a company executive said Thursday.

Tadeusz Zwierzynski, head of Polskie LNG, PGNiG's subsidiary tasked to build the terminal, told reporters Algerian company Sonatrach is one of the potential suppliers.

PGNiG plans to spend some EUR300 million of its own funds and EUR100 million in external financing to build the terminal which will be initially capable of receiving 2.5 billion cubic meters of LNG a year.

The construction of the terminal, to be designed by Canadian engineering company SNC-Lavalin (SNC.T), is scheduled to begin in the second half of 2008.

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