Saipem delays completion of Świnoujście terminal

The Italian company-led consortium has not finishedconstruction of the LNG terminal in Świnoujscie and declared to complete the project “in 2015”, the press reported. The deadline for completion of the project was supposed to have been the end of 2014. Polskie LNG, a company designed to conduct the investment informed that the constructor mentioned only an approximate deadline of completion through 2015. Initially, thedate of handing the project over for operations wasJune 30, 2014. “In line with the agreement, Polski LNG has the right to impose fines due to delays in completion of crucial stages of the project and delays of the whole investment,” the Polskie LNG Director of Corporate Communication Office Maciej Mazur, said. Polskie LNG has been in trade talks with Saipem to set the new deadline. According to the Polish firm, the constructor has not explained causes of the delay yet. The project is95 percent completed. Saipem is an Italian oil and gas industry contractor. It noted a revenue of €12.256 billion in 2013.