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PGNiG waiting to see full impact of coronavirus before amending contracts

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According to Reuters, Poland’s PGNiG has said that it is not planning to start negotiations aimed at modifying its gas import contracts just yet, as it is too early to gauge the full impact of the coronavirus pandemic on domestic gas demand.

Poland has developed several gas projects on the basis that gas demand will rise over the coming years. For instance, the country is planning to expand its LNG terminal in Swinoujscie on the Baltic Sea, and also has plans to construct a gas link to Norway. Projects such as this were designed to help the country decrease its dependence on Russian gas.

In order to be able to stop purchasing gas from Gazprom after 2022 – when its current long-term agreement expires – PGNiG also signed long-term LNG contracts with both the US and Qatar.

In an emailed statement, PGNiG reportedly said: “At the moment it is definitely too early to assess the impact of the current situation on the demand for gas in Poland. PGNiG has different types of options (contractual, access to infrastructure), which allow to react in a flexible way to the changing demand.

“Currently the company does not conduct any talks in this respect and for the time being does not plan such talks.”

Read the article online at: https://www.lngindustry.com/lng-shipping/25032020/pgnig-waiting-to-see-full-impact-of-coronavirus-before-amending-contracts/

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