The LOI intends to launch a common understanding and the basis for further discussion aimed at agreeing the cooperation terms for the LNG terminal expansion with the third tank, development of services including reloading LNG onto smaller vessels and LNG bunkering.
The actions are expected to boost the energy security of Poland and, more directly, the surrounding region.
Polskie LNG CEO Tomasz Peplinski said: "As a new facility on the global gas market and competitive brand in the region, the LNG terminal will be an important player in the European natural gas transmission system.
"The facility will become a partner cooperating with gas business entities all over the world using all the capacity of the plant to provide a broad range of services and ensure its competitiveness."
The two companies will consider potential use of capital of Polish Oil and Gas Company for projects related to the expansion and development of the Swinoujscie LNG Terminal as well as in construction of the necessary infrastructure.
The joint venture will include determining the technical requirements for potential solutions, mainly in terms of potential construction of the third LNG storage tank and a ship station, together with adjustment of the berth and other facilities.
Polish Oil and Gas Company CEO Mariusz Zawisza said: "The terminal in Swinoujscie is one of the projects which will allow diversification of natural gas supply. Its expansion will increase our market potential and will significantly improve Poland’s energy security."
