EC approves EUR 390mn aid for increase of gas storage capacity in Poland.

By bne IntelliNews June 24, 2010
The European Commission has authorised, under the EU state aid rules, the provision of state grants amounting to EUR 390mn for the construction or capacity increase of four underground gas storage sites in Poland, the Commission has announced. In November, 2009, Poland notified to the Commission its intention to grant state aid totalling PLN 1.54bn (around EUR 390mn) to natural gas producer PGNiG for four projects aimed at increasing the capacity of underground storage sites in Strachocina (Carpathian region), Wierzchowice, in Silesia, and Mogilno (Kuyavian-Pomerania) and the construction of new underground gas storage in Kosakowo (on the Baltic coast). The project is expected to be completed in 2015, increasing Poland's storage capacities to 2.6bn cu.m. from 1.6bn cu.m. This will bring the country closer to the current EU reserve capacity average of 14% of annual demand, the release stresses. tom

Related Articles

EC refers Poland to court for delay on renewable energy rules.

The European Commission is referring Poland (and Cyprus) to the Court of Justice of the European Union for failing to fully transpose EU's Renewable Energy Directive, according to the ... more

ZEW Economic Sentiment Indicator for Poland surges to 42.9pts in February.

The ZEW-Erste Group Bank Economic Sentiment Indicator for Poland (economic expectations) surged by 22.3pts m/m to 42.9pts in February, according to a report by the Center for European Economic ... more

FinMin: Poland to inject EUR 5.5bn of FX reserves to ECB upon euro-zone entry.

When Poland joins the euro-zone, it will have to transfer EUR 5.47bn of its foreign-currency reserves to the European Central Bank, according to a statement by the ministry of finance. The ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335