October 24, 2014 [Polskie LNG SA] - Polskie LNG, the Świnoujście LNG terminal project investor and Polish Oil and Gas Company S.A., a leader in Polish gas market signed the Letter of Intent in which both Parties declared joint action aimed at expanding the plant and developing new services to be provided by Świnoujście LNG terminal.
The objective of the said Letter of Intent is to establish common understanding and the basis for further discussion aimed at agreeing the terms of cooperation towards the expansion of the LNG terminal with the third tank, development of services including reloading LNG onto smaller vessels and LNG bunkering. The aforementioned tasks correspond with both companies’ fundamental scope of activity and their implementation by means of expanded terminal’s infrastructure and services will contribute to increased energy security in Poland and in the entire region.
– As a new facility on the global gas market and competitive brand in the region, the LNG terminal will be an important player in the European natural gas transmission system. The facility will become a partner cooperating with gas business entities all over the world using all the capacity of the plant to provide a broad range of services and ensure its competitiveness, said Tomasz Pepliński, the CEO of Polskie LNG S.A.
The Parties to the Letter of Intent will consider the possibility to employ the capital of Polish Oil and Gas Company in the projects related with the expansion and development of the Świnoujście LNG Terminal and particularly in construction of the necessary infrastructure. This joint endeavor will comprise i.a. determining technical requirements for possible solutions, mainly in terms of potential construction of the third LNG storage tank and a ship station along with adjustment of the berth and other facilities. Under the Regasification Agreement in force, Polish Oil and Gas company will be provided with LNG truck cistern loading services; the Parties will also consider the possibility of reloading LNG and bunkering ships with LNG in Szczecin and Świnoujście Seaports using road cisterns.
– Over several years we have observed the development of the global LNG market. The terminal in Świnoujście is one of the projects which will allow diversification of natural gas supply. Its expansion will increase our market potential and will significantly improve Poland’s energy security, said Mariusz Zawisza, the CEO of Polish Oil and Gas Company S.A.
It was emphasized that the scope of cooperation defined in the Letter of Intent will increase energy security of Poland and use the capacity of the project enhancing its competitiveness.
