Latest news with #Gaz-System
Reuters
8 hours ago
- Business
- Reuters
Poland's Gaz-System to get $593 million loan for country's floating LNG terminal
WARSAW, June 18 (Reuters) - Polish pipeline operator Gaz-System will receive a 2.2 billion zlotys ($593 million) loan from state bank BGK to finance the onshore segment of Poland's first floating storage and regasification unit near Gdansk, BGK said on Wednesday. The loan, sourced from European Union funds, will finance construction of a 250-km (155-mile) pipeline that will connect the terminal to the core of Poland's gas network, BGK Deputy President Marta Pustula told reporters. The loan will be repaid over 25 years, Pustula added. The floating storage and regasification unit will be based in the Bay of Gdansk and is expected to be completed in 2028. In January, Gaz-System completed the expansion of its LNG terminal in Świnoujście, increasing its regasification capacity to 8.3 billion cubic metres, which corresponds to nearly 50% of the annual gas demand of domestic consumers. ($1 = 3.7112 zlotys)
Reuters
03-04-2025
- Business
- Reuters
Poland to upgrade gas link to Ukraine to boost transit capacity
WARSAW, April 3 (Reuters) - Poland's Gaz-System will upgrade a metering station on the gas pipeline to Ukraine to boost gas transit capacity towards its eastern neighbour, the company said on Thursday. The upgrade of the Hermanowice station will be ready at the end of 2025 or early 2026, the company told Reuters. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. The upgrade, set to cost 8 million zloty ($2.12 million), follows talks with Ukraine's gas transmission network operator. Ukraine wants to import large volumes of U.S. LNG via Germany, Greece, Lithuania and Poland ahead of the heating season, after Russian shelling left the country with storage almost empty. Kyiv also wants to expand gas transport corridors. The Polish link allows shipment of up to 7 million cubic meters a day, a fraction of Ukraine's needs. Naftogaz, Ukraine's state gas producer, and Polish refiner Orlen WA> last month agreed to cooperate in the LNG sector. Naftogaz bought 200 million cubic metres (mcm) of LNG from Orlen, including one cargo of U.S. LNG. The available capacity on the upgraded pipeline will depend on supply directions, the use of other export routes and the demand of power plants and storage facilities in southern and south-eastern Poland, Gaz-System said. ($1 = 3.7820 zlotys)
