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.

- Advertisements -

Most Popular

Golar buys vessel for third FLNG project

Golar LNG has exercised its option to acquire the 148,000-cbm Moss-type carrier, Fuji LNG, which it aims to convert...

Australia’s Woodside investigating Pluto LNG incident

Australian LNG player Woodside has launched an investigation following an incident that took place on Friday at its Pluto...

Gas leak shuts Equinor’s Hammerfest LNG terminal

Norway's Equinor has closed its 4.3 mtpa Hammerfest LNG export plant due to a gas leak. "I can confirm that...

More News Like This

Venture Global LNG wraps up $4.5 billion senior notes offering

US LNG exporter Venture Global LNG said that it had closed its $4.5 billion inaugural offering of senior secured...

Worley, Venture Global ink CP2 LNG deal

Australian engineering firm Worley and US LNG exporter Venture Global LNG have signed a deal for the construction of...

Knutsen, PKN Orlen take delivery of second LNG carrier in South Korea

South Korea’s Hyundai Heavy Industries has delivered the second Knutsen liquefied natural gas (LNG) carrier that will go on...

Venture Global seals LNG SPA with Japan’s Jera

US LNG exporter Venture Global LNG has signed a long-term liquefied natural gas supply deal with Japan's LNG trading...