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PGNiG in talks on short to mid-term LNG contracts

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LNG Industry,


Reuters are reporting that Polish gas company PGNiG expects to sign short and mid term contracts for LNG by mid 2018 to take advantage of an expected supply glut.

Poland opened its LNG terminal at Swinoujscie on the Baltic Sea last year to reduce its reliance on Russian gas supplies.

PGNiG's sole LNG supply deal so far is with Qatargas, which in March agreed to double deliveries to Poland to 2 million tpy until 2034.

Swinoujscie's annual capacity is currently 5 billion m3 which is to be expanded to 7.5 billion m3.

PGNiG has also become active in buying LNG on the spot market. Earlier this year it received LNG cargoes from Norway and the US.

One or two more LNG spot purchases are still possible this year.

PGNiG buys most of its gas from Russia's Gazprom through a deal locking in supply of up to 10.2 billion m3 annually until 2022, when it will be allowed to expire given Gazprom's reluctance to revise terms.

PGNiG wants to diversify its gas supplies to cut reliance on Russia but also to boost sales to clients in Poland and neighboring countries.

PGNiG expects to keep boosting gas sales this year. Sales rose 14% in the first half of the year after reaching 24.4 billion m3 in 2016.

PGNiG plans to double gas exports to Ukraine to 0.7 – 0.8 billion m3 this year.

The company is also in LNG sales talks to one of its partners in the Visegrad Group, which includes Poland, the Czech Republic, Hungary and Slovakia.

Read the article online at: https://www.lngindustry.com/liquefaction/08082017/pgnig-in-talks-on-short-to-mid-term-lng-contracts/

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