Novatek’s Polish unit declares force majeure

Novatek Green Energy, a Polish unit of Russian LNG exporter Novatek, said it has declared force majeure as it can not meet contractual obligations due to sanctions imposed by the government.

Poland’s Interior Ministry imposed sanctions on Novatek, Novatek Green Energy, Gazprom, and others following a decision on April 25.

“The so-called Sanctions Act allows for a significant expansion of the applicability of the mechanisms for freezing assets and stopping transactions in connection with the aggression against Ukraine,” the ministry said in a statement on April 26.

Pursuant to the decision, Novatek Green Energy was subject to freezing of funds and economic resources and has declared force majeure due to its inability to meet contractual obligations, it said in a statement on May 9.

Novatek Green Energy provides LPG and LNG in Poland but also in other European countries. This includes LNG trucking, small regasification stations, and 12 LNG fueling stations in Germany and four in Poland.

The company said it was taking all necessary steps to remove itself from the sanction list and resume full operational activity.

Poland’s dominant gas supplier and LNG importer, PGNiG, took over the responsibility for Novatek Green Energy’s customers after the sanctions.

PGNiG said in a statement released on April 30 that it had started delivering gas to ten municipalities across the country affected by the halt in deliveries.

To remind, PGNiG recently said that Russia’s Gazprom had cut supplies to Poland via the Yamal pipeline but the firm would continue to increase LNG imports via the Swinoujscie facility.

Last week, PGNiG also imported its first cargo of liquefied natural gas via the Klaipedos Nafta-operated FSRU-based facility in the port of Klaipeda, as part of efforts to diversify supplies to Poland.

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