Polish state-owned oil and natural gas company PGNiG intends to build a liquefied natural gas terminal in Swinoujscie on the Baltic coast by the end of 2011, without seeking collaboration, Thomson Financial has reported, quoting a company official.

The company is optimistic about signing a supply contract by the end of 2007 for the liquefied natural gas (LNG) project, which is likely to cost more than the initially estimated E450 million, the report said, quoting a company official.

Citing Rzeczpospolita as its source, Thomson Financial quoted Tadeusz Zwierzynski, the PGNiG official in charge of the project, as saying: We are planning to build a liquefied gas terminal on the Baltic coast. The company set up by PGNiG for that project will be the sole investor.

Earlier, Gaz de France and Spanish oil and gas company Repsol both showed interest in co-operating with PGNiG for building the LNG terminal, the report added.