07.02.2020

PLN BILLION FOR GAS-SYSTEM’S INVESTMENTS

GAZ-SYSTEM has signed an agreement with the European Investment Bank (EIB) to receive a loan for the implementation of the investment plan. The funds will support, among others, the construction of the Gustorzyn-Wronów gas pipeline.

GAZ-SYTEM,  implementing the most extensive investment plan in the history of the Polish gas industry, finances it with its own resources, EU grants, and bank loans. The EIB is GAZ-SYSTEM’s leading partner in respect of funding the investment from loans. The total amount of loan agreements concluded with this European bank is PLN 2.61 billion. According to the new loan agreement, the company has 20 years to repay PLN 1 billion of the loan.

The agreement signed with the EIB will provide funds for the construction of the high-pressure gas pipeline between Gustorzyn and Wronów and will provide financial support for the interconnection between Poland and Slovakia. Both projects are listed as European Commission’s Projects of Common Interest (PCI).

Presently, GAZ-SYSTEM implements an ambitious investment plan. It assumes, among others, the construction of 2 thousand km of new gas pipelines, including the Baltic Pipe, the North-South Corridor, and placing an FSRU in the Port of Gdańsk. The implementation of the investments will contribute to building Poland’s energy independence and creating a competitive gas market in our region.

GAZ-SYSTEM plays a strategic role in the Polish economy. We are responsible for natural gas transmission and operate the most important gas pipelines in Poland. As part of the 2015-2025 investment programme, GAZ-SYSTEM plans to build over 2000 km of new gas pipelines in western, southern and eastern parts of Poland. Further development of the national transmission network, including the construction of new gas pipelines making part of the North-South Gas Corridor, as well as the construction of interconnections with the neighbouring countries, will strengthen Poland’s energy security and make an important contribution to the development of the European transmission system.

The Company is implementing one of the most important infrastructural projects in Poland – the Baltic Pipe project, which consists in the construction of a bidirectional offshore gas pipeline connecting Poland and Denmark and the expansion of the local transmission network.

GAZ-SYSTEM also owns Polskie LNG, the operator of the President Lech Kaczyński's LNG Terminal in Świnoujście.

 


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