Poland Takes EIB Loan for LNG Terminal

The European Investment Bank (EIB) has granted a loan to Poland of 600 million Polish zlotys (€135 million) to build the country's first LNG terminal in Świnoujście on the Baltic Sea Coast.

The loan will finance the construction and operation of the liquefied natural gas (LNG) unit. The terminal will be located on the eastern bank of the Swina River, approximately 4.5 kilometres from the Polish-German border.

The LNG terminal is expected to be fully constructed and completed by 2014 and will have an annual throughput capacity of 5 Gm3/year.

A statement from the European Investment Bank says the loan will help Poland to diversify its gas supply. The terminal is "is fully in line with EU and Polish energy policy objectives of supporting priority trans-European energy network projects that contribute to the diversification of natural gas supplies," a statement for the bank said.

The terminal, when completed, will have the capacity to supply more than one third of Poland's annual natural gas requirements.