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PGNiG to build zł.1.3 billion gas plant on its own

2007-10-02 00:00
publikacja
2007-10-02 00:00
The plant should be ready by fall 2011. According to the company, its concept could only be changed if a foreign company offered supply of liquefied gas to the terminal or helped obtaining such contract, but even in such a case, it would only be authorized to take over a few percent in the venture.

It is hard to imagine that PGNiG attracted any partners to meet this condition, as usually investors demand at least a 10% stake in the venture in exchange for assistance in contracting gas. This could mean, in practice, that the company would no longer continue its negotiations with French Gaz de France or Spanish Repsol, despite both entities having experience in this market. The Economy Minister Piotr Wo�niak announced last month that PGNiG would obtain a contract for liquefied gas by the end of the year and according to the management this is still possible as the firm is conducting negotiations with leading international producers.


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