Poland Receives First US Term LNG Delivery
Poland received its first cargo of US LNG under a long-term agreement with Cheniere, state controlled PGNiG said July 26. Signed in November 2018, the contract will total some 39bn m³ of natural gas over 24 years.
PGNiG CEO Piotr Wozniak said at the welcoming ceremony: “Two years ago, in this place, together with our partners from Cheniere we greeted the first ever delivery of American LNG to Poland and to this part of Europe. The cargo, purchased as part of a spot transaction, came from Cheniere. Today [July 26] we are also meeting with our American partners and with today's delivery we are launching the first long-term contract for the purchase of LNG from the US.”
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PGNiG said its portfolio of contracts with US suppliers exceeded 9bn m³/yr, more than it imports from Russia. This "strengthens Poland's energy security," but also gives it the opportunity to actively participate in LNG trading on the global market. PGNiG also imports LNG from Qatar. Its contract with Cheniere is ex-ship but those with Venture Global are free on board US Gulf Coast, giving it freedom to sell the LNG to the highest bidder. It also has a term contract with Qatar Petroleum, for 2mn mt/yr until 2034, under which deliveries are already coming.
Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the US Gulf Coast, with expected aggregate adjusted nominal production capacity of up to 45mn mt/yr operating or under construction. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain.