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Poland signs 5-year US natural gas import deal

| TOPICS: Oil and Gas News
Posted on November 24, 2017
Article by: The Hill

Poland’s state-owned oil and natural gas company signed a five-year deal Tuesday to import liquefied natural gas (LNG) from the United States.

The deal is between Polish Oil and Gas Company Group (PGNiG) and Centrica LNG Co., for shipments between 2018 and 2022, the parties said. The gas will go through Cheniere Energy’s Sabine Pass LNG terminal in Louisiana.

PGNiG did not disclose the gas volumes or prices.

“This five-year agreement for American LNG deliveries is based on gas market conditions. We look forward to working with Centrica as a partner to continue to provide diversified supply into Poland,” Piotr Wozniak, PGNiG’s CEO, said in a statement.

“We are extremely pleased to have concluded this mid-term contract with PGNiG as part of Centrica’s strategy to build our global LNG portfolio,” said Jonathan Westby, Centrica’s managing director for energy marketing.

The deal comes both as Poland and the rest of eastern Europe work to dramatically reduce their dependence on pipeline-delivered gas from Russia and as the United States works to ramp up its natural gas exports.

Poland opened an LNG receiving terminal on the Baltic Sea last year and is working with companies around the world to sign supply deals.

PGNiG received its first LNG shipment from the United States in June as part of a spot-market deal, shortly before President Trump visited the nation. Trump’s visit was, in part, to promote United States energy exports.
 
 
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