On January 30, 2024, the Company selected the most favorable bid for the supply and operation of a Floating Storage Regasification Unit (FSRU) to serve as an LNG regasification terminal in the Gdansk Bay. GAZ-SYSTEM will continue discussions on the terms of the charter agreement for the FSRU with Mitsui O.S.K. Lines.

MOL is a company with a 140-year tradition in the international shipping industry, managing one of the world's largest commercial fleets of nearly 800 vessels. MOL's fleet of LNG carriers includes nearly 120 vessels, including seven FSRUs, and is the largest in the world.

The decision to select this supplier is the result of the outcome of a tender process, one of the stages of which was the conclusion of agreements (so-called Term Sheets) in November 2023 with two shipowners offering the best terms for the delivery and use of the FSRU.

- The selection of an LNG regasification unit supplier is an important milestone in the implementation of the FSRU Program, which the Company has been working on for many months. In the near future, we will focus on working out the detailed terms of the so-called Time Charter Party. Then we need to obtain the necessary corporate approvals of the Company's bodies to sign the contract with the shipowner," said Andrzej Kensbok, Vice President of the Management Board of GAZ-SYSTEM.

The Program envisages that the FSRU will stand at a mooring platform about 3 km from the shore, in the area of the port of Gdansk, between the mouths of the Vistula's branches Śmiała and Martwa. The Program will also include the construction of the necessary subsea and onshore infrastructure.

In July 2023, GAZ-SYSTEM completed the process of obtaining administrative decisions for all onshore gas pipelines. In August 2023, the full regasification capacity of the FSRU Terminal at 6.1 bcm per year was reserved for 15 years under the Open Season procedure.

In December 2023, geotechnical boreholes in Gdansk were completed in the course of ongoing design work for the offshore part. These will allow for a subsoil analysis necessary to indicate the location of the starting point of the offshore gas pipeline and its route.

GAZ-SYSTEM is also exploring the potential of the construction market before launching tenders for the construction of subsea infrastructure. As part of the RFI (Request for Information) procedure, on January 16, 2024, a meeting was held at the headquarters of the Company in Warsaw, a meeting was held with potential EPC (Design and Build) contractors. It was attended by 20 companies with experience in the largest complex projects of this type.

Commissioning of the entire project is planned for 2027/2028.