PGNiG to buy more LNG from Venture Global

Poland’s PGNiG has agreed to buy more liquefied natural gas from US liquefaction plant developer Venture Global LNG.

Poland’s dominant gas firm and LNG importer said in a statement it would purchase another 2 million mt on a free on board basis for 20 years.

As a result, PGNiG’s contracted volume from Venture Global LNG would increase to 5.5 million mt or 7.4 bcm of gas per year, it said.

The duo previously signed supply deals in 2018 and 2019.

Instead of 1 million mt of LNG, PGNiG intends to buy 1.5 million mt from the under-construction Calcasieu Pass facility.

Also, the Plaquemines contracted volume would increase from 2.5 million mt to 4 million mt, PGNiG said.

Both Calcasieu Pass and Plaquemines are located in Louisiana. PGNiG expects the first commercial deliveries from Calcasieu Pass in early 2023.

The new supply deal follows the termination of the Port Arthur contract between Sempra and PGNiG.

“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,” said Pawel Majewski, PGNiG’s chief commercial officer.

“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”, he said.

Most Popular

Cheniere produces first LNG cargo at Corpus Christi expansion project

US LNG exporting giant Cheniere has produced the first cargo at the Corpus Christi Stage 3 expansion project in Texas.

Centrica seals LNG supply deal with Petrobras

UK-based energy firm Centrica has signed a 15-year LNG supply deal with Brazil’s state-owned energy firm Petrobras.

Japan’s Japex boosts LNG sales

Japan Petroleum Exploration (Japex) boosted its sales of liquefied natural gas (LNG) in the April-December period last year.

More News Like This

Venture Global gets FERC OK to boost Plaquemines LNG capacity

US LNG exporter Venture Global LNG has received approval from the US FERC to boost the capacity of its Plaquemines LNG terminal in Louisiana to 27.2 mtpa.

Venture Global says to launch Calcasieu Pass LNG commercial ops in April

US LNG exporter Venture Global LNG expects to launch commercial operations at its Calcasieu Pass LNG terminal in Louisiana in April, some 68 months from its final investment decision and 38 months after production start.

Poland’s Orlen boosts small-scale LNG sales

Poland's Orlen said its small-scale liquefied natural gas (LNG) sales reached a record high in 2024.

BP chief expects ruling on Venture Global dispute later this year

BP's CEO Murray Auchincloss expects a ruling on an arbitration dispute with US LNG exporter Venture Global LNG to be delivered in the second half of this year.