WARSAW Aug 6 Poland's liquefied natural gas
(LNG) terminal will cost 600 million-700 million euros ($862.8
million-$1.01 billion) after its planned capacity was doubled
and will be ready by mid-2014, gas pipeline operator Gaz System
chief executive Jan Chadam said on Thursday.
On Thursday Gaz System started a tender for building the
terminal, which with an annual capacity of 5 billion cubic
metres is Poland's major attempt at diversifying away from
dependence on Russia in terms of gas supplies.
"We preliminarily estimate the cost at 600-700 million
euros. Our calculations are based on comparison with similar
projects carried out in the world, but we want to get a best
possible price," Chadam told a news conference.
Gaz System wants to finance about 20-40 percent of the
project while about half of the needed cash would come from the
European Bank of Reconstruction and Development (EBRD) and
European Investment Bank (EIB).
Poland has signed a deal with Qatar's Qatargas Operating
Company to deliver about 1.4 billion cubic metres of gas through
the terminal starting in 2014.
The LNG terminal is seen as Poland's most plausible attempt
at diversifying gas supplies away from Russia's dominance.
Russia covers about two thirds of Poland's annual gas needs
of 14 billion cubic metres, with domestic supply accounting for
(Reporting by Pawel Bernat writing by Patryk Wasilewski)