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The Warsaw Voice » Business » October 27, 2011
Business & Economy
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EU Funds for LNG Terminal
October 27, 2011   
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The European Commission has allocated zl.925 million in a nonrefundable grant for the construction of an LNG terminal in Świnoujście on Poland’s Baltic coast. The news has been announced by the Polskie LNG company established to build and operate the zl.2.5 billion terminal.

“The nonrefundable funds mean savings for the national budget, Polish citizens and future recipients of natural gas from Świnoujście,” said Zbigniew Rapciak, CEO of Polskie LNG.

According to the company, the Commission’s decision was the last thing required by Polskie LNG to sign contracts with investors in Poland to help finance the project. In November last year, the terminal received 55 million euros in nonrefundable EU funds, which, together with the latest grant, account for a combined 45 percent of the total cost of building the terminal.

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