Polskie LNG, a company created to build an LNG terminal in Świnoujście, has announced that its grant from the EU towards the project was just increased by nearly zł.100 million.
The company signed an agreement on EU financing in October 2011. Initially, the maximum amount available was zł.456 million but that has now been increased to zł.551.8 million. The total cost of the project, which is set to be completed in 2014, is estimated at zł.2.6 billion.
The company is also conducting market research in order to find out whether the facility should be further expanded. This would mean that the transfer capacity would be increased from the originally planned 5 billion cubic meters annually to 7.5 billion cubic meters and extra functions would be added to the terminal.
From Warsaw Business Journal
LNG terminal facing problems?
Construction on Poland's first LNG terminal behind schedule
Work on Świnoujście LNG terminal to start in March
LNG terminal construction to begin next summer
Poland LNG terminal closer
Is Poland's ruling party finished?
BY Remi Adekoya
Migration and remittances in the euro zone periphery
BY Stratfor Global Intelligence