The European Bank for Reconstruction and Development (EBRD) has provided a Zl300mn (€75mn) loan to Poland’s Gaz System for the construction of the country’s first liquefied gas terminal.

The 12-year EBRD loan represents 11% of the project’s cost. Other lenders include the European Union, the European Investment Bank and Gaz System itself. It will help Poland reduce its reliance on gas imports from Russia and diversify towards cleaner energy. The plant will be the first re-gasification terminal in the EBRD’s countries of operation, and will start receiving liquefied natural gas (LNG) from Qatar and other regions in 2014.

Jan Chadam, CEO of Gaz System, says: “By signing the loan agreement with the EBRD, Gaz System has finalised the organisation of financing for the LNG terminal in Świnoujscie. The terminal will raise the security of supply in the European Union and will support the creation of a single European energy market. It is good news for the market, especially for the shippers, who would like to construct their purchase strategy based on the import of LNG.”

The plant is expected to re-gasify enough liquefied gas to supply a third of the country’s annual consumption. It will be connected to the national gas system by a new pipeline.

Riccardo Puliti, the EBRD’s managing director for energy and natural resources, says: “The significance of this LNG terminal is substantial for energy security in Poland and central Europe as it means diversifying both sources and routes of energy supply.”