SNC-Lavalin denies doing final design on $1 billion LNG terminal in Poland
 
1/31/2011 2:03:00 PM | Canadian Press (English)

MONTREAL - Canadian engineering giant SNC-Lavalin denies published reports in Poland that it is helping to build a $1-billion liquefied natural gas terminal.

The Warsaw Business Journal reported Monday that the Montreal-based engineering and construction giant is designing the project in Swinoujscie, in the country's northwest.

SNC-Lavalin (TSX:SNC) spokeswoman Leslie Quinton said the company did the initial design a few years ago but did not obtain the final contract. Still, the project was being built according to SNC's evaluation, she added.

Construction is slated to begin in March and be completed in June 2014.

The terminal will use seaborne gas supplies and is meant to help Poland increase its energy security by diversifying its energy sources.

General contracting will be provided through a consortium comprised of French-Italian Saipem, Italy's Techint, Snamprogetti Canada and Poland's PBG and PBG Export, said the Polish publication.

SNC-Lavalin created Polish subsidiary SNC-Lavalin Megadex in 2004 by taking on projects and personnel from a segment of the country's leading engineering company in the power production sector.

It has worked on a coal-fired thermal power plant and last year signed a preliminary agreement with GE Hitachi Nuclear Energy to evaluate new nuclear power plant opportunities in Poland.

On the Toronto Stock Exchange, SNC-Lavalin's shares were down 63 cents to $58.77 in Monday trading.