Polish Briefing: A letter of intent on Polish FSRU signed

What goes on in Poland on the 24th of September.

A letter of intent on Polish FSRU signed

Representatives of Gaz-System, the Port of Gdansk Authority and the Maritime Office in Gdynia signed a letter of intent regarding cooperation in the implementation of the program for the construction of a floating LNG terminal (FSRU) in the Gulf of Gdańsk.

Gaz-System states that the document defines the role of each party in the construction of the FSRU floating LNG terminal. The letter of intent is the basis for concluding a separate agreement that will define the exact rules of cooperation and its scope between all parties.

Gaz-System explains that the FSRU (Floating Storage Regasification Unit) is a vessel that has the function of storing and regasifying liquefied natural gas (LNG). The company is conducting a process of researching the demand for new transmission capacity in the national transmission system, which will allow to determine business parameters for the FSRU project.

– At the present stage, Gaz-System has planned to erect a vessel with a capacity of 4,5 billion cubic meters in the Gulf of Gdańsk annually. The construction of the FSRU Terminal as a new entry point to the national transmission system is a response to the growing domestic demand for natural gas. The investment will enable the development of the LNG market in our part of Europe, and will also contribute to strengthening Poland’s energy security. The location of the FSRU unit in the Gulf of Gdańsk will increase the economic importance of this part of the Polish coast – reads the Gaz-System press release.