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Polish PGNiG signed a 5-year contract with Centrica to buy LNG from the US

Poland’s state-owned oil and natural gas company PGNiG to buy LNG from the US.


Poland’s state-owned oil and natural gas company PGNiG has signed a 5-year contract with Centrica to buy LNG sourced from the US on a delivery ex ship basis. It will start next year, the Polish company reported on November 21, 2017.

 

Up to 9 cargoes will be delivered during the term of contract to the Lech Kaczynski LNG Terminal in Świnoujście, where PGNiG recently booked additional regasification capacity.

The primary source of LNG delivered under this contract shall be the North American natural gas liquefaction terminal located at Sabine Pass, Louisiana.

 

«This 5-year agreement for American LNG deliveries is based on gas market conditions. We look forward to working with Centrica as a partner to continue to provide diversified supply into Poland,» said Piotr Wozniak, PGNiG’s CEO.

 

«We are extremely pleased to have concluded this mid-term contract with PGNiG as part of Centrica’s strategy to build our global LNG portfolio,» said Jonathan Westby, Centrica’s managing director for energy marketing.

 

The deal comes both as Poland and the rest of eastern Europe work to dramatically reduce their dependence on pipeline-delivered gas from Russia and as the United States works to ramp up its natural gas exports.

Poland opened an LNG receiving terminal on the Baltic Sea last year and is working with companies around the world to sign supply deals.

 

PGNiG received its 1st LNG shipment from the United States in June as part of a spot-market deal, shortly before President Trump visited the nation.

Trump’s visit was, in part, to promote United States energy exports.

 

To read the news in Russian.

 

Source : Neftegaz.RU