PGNiG and Venture Global LNG sign SPA
Published by Will Owen,
Editor
LNG Industry,
Polish Oil & Gas Company (PGNiG) and Venture Global LNG have entered into an agreement relating to the terms of delivery of LNG from Calcasieu Pass LNG and Plaquemines LNG facilities.
The agreement defines basic terms and conditions of a 20-year contract for the sales and purchase of 2 million tpy of LNG, which equals about 2.7 billion m3 following regasification. Cargoes will be supplied from Calcasieu Pass and Plaquemines LNG export facilities which are expected to be completed in 2022 and 2023 respectively. Both terminals will be located by the Gulf of Mexico in Louisiana. The documents were signed during the World Gas Conference in Washington, DC.
Mike Sabel and Bob Pender, co-CEOs of Venture Global LNG, jointly announced: "We are honoured to be partnering with PGNiG of Poland, one of Central Europe's leading utilities and suppliers of energy, as it secures the long-term supply of LNG. PGNiG will be joining our existing global partners Shell, Edison SpA, Galp and BP in our Calcasieu Pass project and become one of our foundation partners for Plaquemines LNG."
Piotr Wozniak, CEO and President of the Management Board at PGNiG, announced: "With satisfaction we look forward to commencing long-term cooperation with our new partner Venture Global LNG. This is an important step for PGNiG in developing our activities on LNG market. Purchasing of LNG in the USA will not only allow further diversification of our import portfolio following 2022, but will also let us develop our trading competences and will enable PGNiG's presence as a global LNG market player."
Deliveries may be subject to further trading on international markets and will be supplied on a free-on-board basis (FOB – the purchaser is responsible for transport of cargo from a loading port).
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/27062018/pgnig-and-venture-global-lng-sign-spa/
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