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Poland’s move away from Russia brings risks

State-owned PGNiG is investing in an expansion to the Świnoujście LNG terminal and a new pipeline connection with Norway, but its motives seem more about politics than economics State-owned PGNiG is investing in an expansion to the Świnoujście LNG terminal and a new pipeline connection with Norway, but its motives seem more about politics than economics.
By Silvia Favasuli 17 January 2019 Europe & Russia / LNG 0 33842
Poland's LNG terminal during its construction. (Interfax)

The key issue: Having signed a string of LNG supply deals with US firms over the course of 2018, Poland’s PGNiG is investing heavily in new projects to further diversify its supply away from Russia. But the move may not be positive from an economic perspective.

Interfax analysis: PGNiG’s strong cash flow from operations suggest the Polish state-owned company may be able to deliver its ambitious infrastructure projects, but the economic rationale of the company’s investment plan – which amounts to PLN 34 billion...