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Polish PGNiG signed agreements with North American Venture Global LNG and Sempra LNG

The share of Russian gas in total gas imports by PGNiG remained at the level of approximately 60 %. In 2015 it accounted for almost 90 %

Polish PGNiG signed agreements with North American Venture Global LNG and Sempra LNG

Warsaw, July 27 - Neftegaz.RU. PGNiG announced today that it had terminated a contract for 2 million tonnes of LNG per year from Sempra's Port Arthur LNG project in Texas, amid delays in its development.

PGNiG and Port Arthur LNG SPA was signed in 2018.
Under the agreement, LNG was to be delivered on a free on board basis with PGNiG being responsible for lifting the cargoes from the 11 Mtpa liquefaction facilities located at Port Arthur LNG in Texas and shipping them to final destinations.
The FID to build Port Arthur LNG has not been taken.

Today, the Polish company signed with Sempra a MoU for a potential replacement of LNG supplied from other Sempra LNG projects in North America.
Paweł Majewski, PGNiG´s CEO said:
  • We highly value our relationship with Sempra LNG and we are keen to continue it
  • The MoU allows for shifting the volumes originally contracted at Port Arthur LNG to other facilities from Sempra LNG’s projects portfolio
PGNiG also signed agreements with Venture Global Calcasieu Pass and Venture Global Plaquemines to purchase another 2 million tonnes per annum (Mtpa) of LNG for 20 years.
As a result, the volume of LNG contracted from Venture Global LNG by PGNiG is to increase to 5,5 Mtpa.

Majewski noted:
  • LNG plays a vital role in PGNiG’s strategy
  • It is a key component of our supply portfolio diversification and the plan to reinforce the energy security of our customers
  • Moreover, based on LNG, we plan to develop our commercial activity in the global trading market
  • Expanding our cooperation with Venture Global LNG fits in with both of these goals
The SPAs signed with Venture Global LNG subsidiaries are on a free on board basis, which means that the seller will deliver LNG to an LNG carrier at the loading port and the buyer can freely dispose of the load.

Both liquefaction facilities i.e. Calcasieu Pass and Plauemines, are located in Louisiana.
The 1st one to start is Calcasieu Pass with the commercial deliveries expected in early 2023.

Source : Neftegaz.RU

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