Qatargas reported on March 14, 2017, that they reached an agreement with Polish Oil and Gas Company to increase the volume of its curent LNG supplies to 2 million tonnes per annum (MTPA).
The new sale and purchase agreement (SPA) will come into effect on January 1, 2018 and will run until June 2034.
Commenting on the new deal, Qatargas CEO Khalid Bin Khalifa Al Thani, said: «Today, Qatargas looks forward to the next phase in our long-term relationship with PGNiG, and to the prospect of building an even stronger relationship with PGNiG as we increase our deliveries of LNG to Poland,» he added.
Maciej Woźniak, the executive VP of the PGNiG Management Board, said: «This agreement is the next meaningful step in deepening our close partnership with Qatargas, the world’s biggest LNG company, and reaffirms Qatargas’ commitment to supporting the development of an LNG hub in Poland. This agreement will also contribute to building the Company's value for shareholders,» he added.
The LNG will be supplied from Qatargas 3, a joint venture between Qatar Petroleum, ConocoPhillips, and Mitsui, and will be delivered on board Q-Flex LNG vessels to the President Lech Kaczynski LNG Terminal in Swinoujscie, Poland.
The Polish company, which expects its gas contract arbitration case against its main supplier Gazprom to be adjudicated in 2H 2017, recently opened an LNG trading office in London and is hoping that some US spot LNG exports may be traded into Poland.
It has recently expanded sales among industrial customers, but critics say it is benefiting from an increasingly less competitive Polish wholesale gas market.
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