EuRoPol Gaz profits likely to almost half in 2003

According to EuRoPol Gaz which is responsible for construction and running the Yamal gas pipeline in Poland, its profit will be smaller than in p revious years as the rate for gas transmission is projected to decrease. Infrastructure Minister Marek Pol says there is no need to fear this as the firm will continue to generate profit. According to preliminary estimates, last year EuRoPol Gaz generated a net profit of more than $110 million. However, analysts claim that it is evident than over the next 15 years profit levels will fall. This year, it is expected to reach only $67 m illion. Gas transmission fees are EuRoPol Gaz's most important source of revenue. This is paid by Polish Oil and Gas and Gazprom which annually transport around 3 billion and 17 billion of cubic meters of gas respe ctively. (Rzeczpospolita, B1) A.Z.