Polish PM announces PLN 3bn for Poland’s gas pipelines and gas ports

Polish Press Agency reports that Prime Minister Mateusz Morawiecki announced on Friday, March 18, that Gaz-System, a company that builds gas pipelines, would be recapitalised with more than PLN 3 billion  (USD 703 million). Furthermore, he mentioned the Baltic Pipe and the Świnoujście LNG terminal as a Polish investment in energy security.

– Vladimir Putin has completely broken with the normal rules of economic art. Gas blackmail, the use of raw materials as an element of war, not just psychological war anymore, but simply war, price war and the war in Ukraine, is an action that we must counteract on many fronts – Morawiecki said.

The Polish PM added that this is why “we have already built a real space for gas independence in Poland this year”.

As examples, Morawiecki mentioned Baltic Pipe and the LNG terminal in Swinoujscie, which he said, “we are expanding to over 8 billion cubic metres of annual LNG capacity”.

– This is our response and our investment in energy security. It’s our new gas infrastructure to ensure the stability of supply. This is our new infrastructure that will lead to lower prices. By moving away from the possibility of blackmail by Putin, we will introduce lower gas prices through this type of action – the politician said.

“Hence our big investment in Gaz-System. We are allocating more than PLN 3 billion in the anti-Putin shield to recapitalise this company, which builds gas pipelines,” Morawiecki added.

The prime minister pointed out that in the perspective of up to three years, “when we become independent from Putin, and the whole of Europe, gas prices will fall; however, we all have to be jointly resistant to this blackmail from Putin,” Morawiecki said.

source: PortalMorski