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POLAND: LNG Terminal Expansion
Poland’s LNG terminal in Świnoujście will be significantly expanded over the next several years. New railway infrastructure, additional regasification installations and a third storage unit will all be built between 2021 and 2023. These investments will allow for a 50% boost of Poland’s LNG import capacity from 5 billion cubic metres to 7.5 each year. The expansion is necessary given increasing ties with US gas companies. Last week, Poland’s gas giant PGNiG has finalised its third deal for LNG imports from the US. The state-owned firm will buy two million tonnes of LNG annually from the US company Port Arthur, as of 2023. Other deals include a 24-year contract with Cheniere and a 20-year one with Venture Global LNG. The expansion of the port is not only about increasing efficiency; Poland seeks to stop most natural gas imports from Russia after 2022. If construction is delayed, Warsaw will have to turn to other neighbours for help so as not to stay dependent on Russian deliveries.