EU grants funds for Polish LNG terminal expansion

20/03/2019 09:02 LNG

news

The European Commission has approved €128 million to support the expansion of the Polish LNG terminal in Świnoujście.

Polish LNG terminal operator, Polskie LNG has already launched a tender procedure to select a contractor for three key projects within the first Polish LNG import facility, which includes the construction of the third LNG storage tank, delivery of additional process installations increasing the regasification capacity to 7.5 billion cubic meters per year, and the LNG transshipment installation together with a railway siding.

 

Reaching the target capacity of 7.5 bcm/year is planned for 2021, while the other two projects are scheduled for completion in the second quarter of 2023.

 

The expansion program involves also the construction of a fourth component, the second jetty for loading and unloading of LNG carriers, LNG transshipment and handling LNG bunker vessels and providing bunkering services.

 

The Commission approved the aid for the initial construction of this LNG terminal in 2011.

 

The increase in capacity was included in the list of Projects of Common Interest of the European Union as part of the Baltic Energy Market Interconnection Plan (BEMIP) corridor.

Source: lngworldnews.com

Daily (23.04.2019): Oil prices surged by 2.9% on Monday after U.S. commitment to cancel waivers on Iranian crude imports

23/04/2019 10:50:00

Crude oil prices jumped to a 2019 high on Monday, on prospects of a tighter supply raised by U.S. commitment to end all sanction waivers as of May 1 for the eight countries that import Iranian oil. Ongoing U.S. sanctions against Iran and Venezuela, as well as OPEC’s production cuts also supported prices. Brent crude soared by 2.9% to $74.04 a barrel, while WTI futures surged by 2.4% to $65.55 a barrel.

<READ MORE

Gazprom sees output falling as European gas demand declines

23/04/2019 09:53:00

Gazprom PJSC forecasts a conservative natural gas production outlook for 2019, based on warm weather and growing competition from Russian-piped super-chilled fuel.

READ MORE

BP, partners to go ahead with $6bn ACE project offshore Azerbaijan

23/04/2019 09:47:00

BP and its partners in the Azeri-Chirag-Gunashli field (ACG field) have approved the $6bn Azeri Central East project (ACE project), which marks the next stage of development of the super-giant offshore Azerbaijani oilfield in the Caspian Sea.

READ MORE