PGNiG reconsiders its major investment plans

According to the company's new president Michał Szubski, the firm simply cannot afford both projects, especially as it plans other investments, such as gas exploitation in Poland and abroad and construction of new depots and pipelines. The liquid gas terminal in Œwinoujœcie might cost as much as €400 million, while a pipeline to Denmark is estimated to cost €300 million, with both investments to become operational within four years. "I do not understand why PGNiG should have to bear the full costs of constructing this pipeline, as it is beneficial both for future deliveries of gas to Poland and to Denmark," said Michał Szubski. He went on to say that the firm is negotiating terms of co-financing with its Danish partner, but it might consider another route if the talks are in vain. (Rzeczpospolita, p. B1) M.M.