Poland Enters into New Gas Supply Agreements

Poland's gas monopoly has signed two agreements on gas supplies.

PGNiG signed an agreement with the trade house Vitol SA of Geneva, for the supply of about 550 million cubic meters of natural gas per year to be delivered through a new Polish-Czech interconnector to the point of delivery-acceptance in the Cieszyn region. The contract value is approximately EUR 550 million. Deliveries will begin Oct. 1 
2011 and will run until 1 October 2014.

PGNiG said that the agreement is part of a strategy in strengthening national energy security through 
diversification of supply sources and directions.

PGNiG has also agreed to a contract to buy 50 million cubic metres of natural gas from German company VNG.

Source: PGNiG