LNG terminal to be operational on time – contractor

“The terminal will be ready by mid-2015,” Jacek Balcer, head of corporate communications at PBG told Bloomberg. PBG, which is a part of a group of companies led by Italian Saipem, won the tender back in 2010 to build the LNG terminal in Świnoujście. Since than it renegotiated the deal, bringing the value of the deal to PLN 2.37 billion, up by 13 percent from the initial price. Recently, the consortium asked for further increase, citing increased costs. “Changes in the law have increased construction costs and we’re in talks with the investor to resolve the problem,” Balcer said. Deputy PM Janusz Piechociński said in an interview with TVN 24 BiŚ that the government “has its back against the wall,” when it comes to finishing the project. The terminal, built by state-controlled SPV Polskie LNG, is expected to have an operating capacity of 5 billion cubic meters of LNG annually, which may be expanded to 7.5 billion cubic meters. It’s launch date has been delayed several times.