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.

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