PGNiG to spend $1.1 bln to expand storage-report

WARSAW, March 24 (Reuters) - Poland's dominant gas provider PGNiG PGNI.WA plans to spend more than 3.7 billion zlotys ($1.1 billion) to more than double its storage capacity by 2015, its chief executive was quoted as saying on Tuesday.

“By 2015 we want to increase the capacity of our storage tanks to 3.8 billion cubic metres from the current 1.6 billion,” Michal Szubski told Dziennik newspaper in an interview. “This should be enough to make us feel safe.”

Szubski said the state-controlled company had asked the energy market regulator to approve a reduction in regulated gas prices by several percent.

PGNIG’s volume sales of gas this year should be similar to 2008, he added. ($1=3.348 Zloty) (Reporting by Piotr Skolimowski; Editing by Hans Peters)